12.03pm
The sharemarket drifted lower today with the revival of Baycorp Advantage virtually the only feature.
The NZSE-40 capital index fell back 5.95 points to 1964.75 at 10am on light turnover worth less than $13 million.
Baycorp Advantage, which last week shed half its value in the wake of a profit warning,
recovered another 12c to add to yesterday's 12c and was trading at 235. Baycorp has now risen 48.7 per cent from last week's trough of 158.
Australian media said predators including the largest US credit reporting company Equifax were reported to be circling the Australasian credit information company.
Market heavyweight Telecom continued its downward drift, easing 3c to 475.
Auckland Airport was up another 1c to 548 having risen 13c yesterday after releasing positive earnings guidance for the first four months at its annual meeting.
The airport company said at its AGM it was on path for a record profit, with revenue up 13 per cent at $74 million and the after-tax profit up 20.2 per cent at $25.3 million.
Tranz Rail was unchanged on 130 following yesterday's annual meeting when it said it was on track for its profit target. News is expected today on a renewed banking arrangement for the lease of a ferry.
Fisher & Paykel Healthcare fell 7c to 1075, losing the 7c its gained yesterday.
Among other movers, The Warehouse rose 11c to 741, Fletcher Forests lost 1c to 22c, Port of Tauranga rose 9c to 449, Richmond fell 9c to 181, Vending Technologies rose 3c to 200 and Waste Management rose 4c to 294.
There were 30 rises and 28 falls among the 93 stocks traded.
- NZPA
