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NZ Sharemarket Down Early

Contributor:
Fuseworks Media
Fuseworks Media

Wellington, Feb 26 NZPA - Shares in healthcare equipment supplier Ebos rose strongly early, despite ending unchanged yesterday after reporting a 38 percent rise in half year profit as sales grew and costs fell.

Ebos shares were up 23c, or 3.9 percent, early to 620 in a broadly lower market.

Air New Zealand shares fell 2c early to 129 after first half profit more than doubled, but the airline said it expected a weaker second half. Auckland Airport slipped 1c to 185 on a 4.7 percent rise in half year profit when a property charge in the previous period was excluded.

Pyne Gould Corp shares were unchanged on 45 early after the finance and investment company returned to profit in the first half.

Around 10.15am the benchmark NZX-50 index was down 7.63 points to 3144.05, after yesterday gaining 20.8 points.

Among leading shares, Fletcher Building fell 5c to 795 early, Contact Energy was down 4c to 610, and Telecom dropped 2c to 229. NZX was down 4c to 201 and NZ Oil & Gas lost 2c to 151.

In the United States, stocks fell as sentiment took a hit from data showing a weaker-than-expected labour market after global markets were unsettled by fiscal woes in Greece.

The Dow Jones Industrial Average shed 0.5 percent to 10,321.71 at the closing bell, the tech-dominated Nasdaq ended with a loss of 0.1 percent at 2234.22, and the broad Standard & Poor's 500 index dipped 0.2 percent to a preliminary close of 1102.99.

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