5.55pm
The sharemarket's benchmark index laboured to a fresh closing high today on mixed trade among top stocks, with many investors taking time out to digest recent results.
At the 5pm close the NZSX-50 gross index was 2.43 points higher at 2891.73, while the NZSX all capital index was 0.70 of a
point higher at 956.69.
Campbell Stuart of UBS Warburg said the market had finished almost square after "a pretty good trot of late".
"It's not unusual to see it take a breather from time to time."
Mr Stuart said the market's biggest news today was Fisher and Paykel Healthcare's half year result.
The company's shares ended up 11c lower at 301 "despite what we believe is a good result".
The company posted an 11.5 per cent rise in half-year net profit to $28.1m for the six months to September, up from $25.2m for the same period last year.
"It's certainly delivered some very good growth across some products," Mr Stuart said.
The company lifted its interim dividend to 5cps from 4.8c but that failed to satisfy investors worried about the impact of the strong New Zealand dollar.
Meanwhile The Warehouse slippped a further 10c today, plumbing a five year low of 375 on the back of its October quarter sales figures released yesterday.
Market comment has noted the retailer's diminishing market share and asked questions about its expansion prospects. A turnaround in Australia is seen as a long grind.
Among other retailers, Briscoe Group fell 4c to 127 and Pacific Retail Group rose 8c to 208.
Top stock Telecom made a respectable 5c gain to 595 today while Sky City extended recent gains by 6c to 471 and Fletcher Building added another cent to yesterday's post-result gain to finish at 579.
Contact Energy fell 6c to 621 and Infratil was down 7c to 320,
AMP, subject to takeover talk, gained another 32c to 775 today, Air New Zealand rose 3c to 155, and jeweller Michael Hill International rose 10c to 790.
Rarely traded software company Finzsoft Solutions took a 15 per cent, 14c dive to 76c on a parcel of just 2000 shares. Chief executive Barry Shannon said he knew of no reason why the company's shares were down so sharply. The company expects to report its result later this week.
Wellington-based Capital Properties rose a cent to 102 after announcing a profit to $9.1 million for the six months to September, up 25.7 per cent on $7.2 million for the same period last year.
Total turnover for the day was $120.92 million and stocks rising narrowly outnumbered those falling 59 to 53 out of a total of 162 traded.
- NZPA
5.55pm
The sharemarket's benchmark index laboured to a fresh closing high today on mixed trade among top stocks, with many investors taking time out to digest recent results.
At the 5pm close the NZSX-50 gross index was 2.43 points higher at 2891.73, while the NZSX all capital index was 0.70 of a
AdvertisementAdvertise with NZME.