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New Zealand sharemarket down early

Fuseworks Media
Fuseworks Media

Wellington, Sept 30 NZPA - The New Zealand dollar was down in early trading today as leading share Fletcher Building fell back further.

Yesterday, when a 15c a share dividend was no longer payable, Fletcher Building shares ended down 24c, and in early trading today they were down 10c at 825 early.

Around 10.15am the benchmark NZX-50 index was down 5.19 points to 3221.69, after losing 3.3 points yesterday.

Hellaby Holdings fell 2c early to 196, Contact Energy was down 2c to 569, and Telecom slipped 1c to 207.

Hallenstein Glasson lifted 5c to 440 on low volume, Nuplex lifted 4c to 330, Trustpower was up 3c to 738, and Sky TV added 3c to 509.

In the United States, Wall Street took a breather from a month-long rally, with investors bracing for higher volatility going forward as the best quarter in a year nears its end.

The Dow Jones industrial average shed 0.2 percent to 10,835.28, the Standard & Poor's 500 Index dipped 0.3 percent to 1144.73, and the Nasdaq Composite Index fell 0.1 percent to 2376.56.

Hewlett-Packard Co, a Dow component, rose 2.2 percent to $US42.53 after the computer and printer maker forecast 2011 profits above estimates.

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