The sharemarket had a fairly lacklustre session today though exporters got a lift from the plunge in the New Zealand dollar.
The benchmark NZSX-50 index closed up 6.195 points at 3373.448. There were 49 rises and 42 falls and turnover was worth $85 million.
"There was not much
lead from offshore overnight with the international markets putting in a mixed performance," Grant Williamson, a partner at Hamilton Hindin Greene said.
"The highlight of the day is the performance of the NZ dollar," he said.
The fall in the NZ dollar to US67.45c today from US69.30c yesterday was good news for exporters.
Fisher & Paykel Healthcare rose 11c to 331 and the appliances stock was up 9c to 189.
Air NZ also rose 4c to 118.
Michael Hill International rose 7c to 90 on thin volume after completing the acquisition of US stores.
Fletcher Building rose 17c to 740.
Telecom was down 9c to 319, NZOG eased 4c to 152 and Auckland Airport eased 2c to 207. Contact eased 3c to 836. The Warehouse eased 5c to 490 and Methven eased 7c to 162.
US stocks fell, as the steep decline in the price of oil and other commodities hammered energy and materials companies, while tech shares fell amid jitters a global economic slowdown would crimp technology spending.
The market was unable to hold on to the sharp gains notched at the beginning of the day, in part after a weak reading on factory activity.
The Dow Jones industrial average dropped 0.23 per cent to 11,516.92. The Standard & Poor's 500 Index dropped 0.41 per cent to 1277.57. The Nasdaq Composite Index dropped 0.77 per cent to 2349.24.
- NZPA
