NZ stocks: Market falls with Wall Street

The sharemarket fell across the board today after Wall Street fell 0.6 per cent on renewed inflation concerns.

Telecom fell 2c to 595, Fletcher Building continued to drop on vigorous profit taking, falling 5c to 783, but Contact Energy arrested its recent slide at 710.

Carpet maker Feltex fell 4c to 58 in response to rejection of a merger with Australia's Godfrey Hirst after the market closed yesterday.

NZX rose 15c to 700 after it reported a 39 per cent rise in third quarter earnings before interest, tax, depreciation and amortisation (ebitda).

Lyttelton Port fell 4c to 190 after Christchurch City Holdings Ltd (CCHL) lifted its stake by 3.84 per cent to 69 per cent after paying 186/share.

The benchmark NZSX-50 index was down 13.41 points at 3333.44 at 10.25am.

- NZPA