Australia's undecided federal election will have a downward effect on the markets today.

Top fashion design company Liz Mitchell Design Ltd has gone bust, owing creditors nearly $200,000.

Sky Television has reported a 16.9 per cent rise in annual profits and says it is now in 47.9 per cent of New Zealand homes.

Telecom today reported a 4.5 per cent fall in its bottom line full year net profit to $380 million, with revenue down 6.5 per cent to $5.27 billion.

Profits at Michael Hill have plunged 60 per cent.

Graeme Hart is sticking with his longtime strategy of heavily leveraging his business deals, borrowing as much as US$5bn to help pay for Pactiv.

Gold continues to have its centuries old allure, but both traders and sceptics agree - it's not for everyone.

Fletcher Building reported a full-year profit of $272 million, turning around last year's loss of $46 million.