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Sleepy Start To Final Trading Session Of The Year

Contributor:
Fuseworks Media
Fuseworks Media

Wellington, Dec 31 NZPA - The New Zealand sharemarket had a sleepy start to its final session of the year, with little trading activity.

The benchmark NZSX-50 index was barely changed after the opening 15 minutes -- down 0.8 point to 3220.11.

Among the heavyweight stocks, Telecom was all square at 250, Fletcher Building down 1c to 799 and Contact Energy shares were untraded.

Transport company Mainfreight, which shed 10c yesterday, fell another 5c to 560 and Trustpower eased 3c to 728.

Other stocks to trade early showed little, if any movement. GPG eased 1c to 83, as did Pumpkin Patch to 202, while Vector firmed 1c to 201.

On Wall Street stocks edged lower as investors took profits in some of the year's better performers, offsetting a much better-than-expected report on Midwest business activity, Reuters reported.

The Dow Jones industrial average was down 10.50 points, or 0.10 percent, at 10,534.91. The Standard & Poor's 500 Index was down 2.17 points, or 0.19 percent, at 1124.03. The Nasdaq Composite Index was down 4.43 points, or 0.19 percent, at 2283.97.

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