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NZ Sharemarket Little Changed As Earnings Flow

Contributor:
Fuseworks Media
Fuseworks Media

Wellington, Feb 26 NZPA - The New Zealand sharemarket had plenty of information to trade off today from corporate earnings but managed to end little changed in line with tepid markets offshore.

The benchmark NZX-50 index closed up 4.416 points, or 0.14 percent, at 3156.102, after opening slightly higher. There were 36 rises and 50 falls among the 114 stock traded. Turnover was worth $89 million.

Ebos shares rose 31c, or 5.19 percent, to 628 after reporting a 38 percent profit rise this week and expressing optimism about the Australian market and possible changes to health procurement in New Zealand.

Air New Zealand shares fell 2c to 129 after first-half profit more than doubled, but the airline said it expected a weaker second half. Auckland Airport was unchanged at 186 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 after the finance and investment company returned to profit in the first half.

Vector was unchanged at 194 after reporting an 11.6 percent rise in interim profit.

Telecom rose 2c to 233 even though it continued to be dogged by bad publicity, this time relating to its 111 service.

Fletcher Building fell 7c to 793 on a day in which building consent data was weaker than expected.

ANZ rose 55c to 2925 after reporting December quarter earnings. Contact Energy, which reported earnings on Tuesday, was down 2c to 612.

Nuplex rose 1c to 342 after reporting earnings yesterday. Turners & Growers fell 4c to 147 after reporting lower earnings.

AMP NZ Office Trust rose 3c to 77 after unveiling a restructure of its business and plans to sell retail units in Wellington's Chews Lane.

Ports of Tauranga fell 6c to 694 after releasing its interim profit yesterday.

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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