NZ stocks: Sharemarket eases in half-day trade

New Zealand shares were lower in early trading on a half day session before the New Year holiday.

The benchmark NZX-50 index eased 13.75 points to 4033.54.

Telecom eased 1c to 480, while Contact Energy eased 10 cents to 820. Fisher & Paykel Healthcare rose 1c to 425 and Fletcher Building rose 5c to 1100.

The Warehouse was untraded initially as investors await developments in the new year from the corporate saga engulfing the retailer.

Mainfreight rose 5c to 800 and Pumpkin Patch rose 3c to 465.

Air NZ rose 1c to 186 on news yesterday that Qantas was cutting flights between Wellington and Christchurch.

- NZPA