12.00pm
A dip in Telecom's share price this morning has put a damper on the market despite it showing positive signs in the wake of Christmas shopping season.
At 11.30am, Telecom was unchanged on 544 after spending most of the morning down 1c at 543. So far today it has traded $7.7
million worth of shares on volume of 1.4 million.
The benchmark NZSX-50 index was up 0.37 points at 2473.25, while the NZSX-40 capital index was up 1.93 points at 2301.14.
There had been $22.7 million worth of shares traded on volume of 6.1 million. Among the 102 stocks traded were 39 rises and 23 falls.
Greenslades broker Paul Valk said Telecom's influence could be seen in the indices, which were marginally above yesterday's closing levels.
"Other than that it's quiet, but there's a few good stories about."
Among them were retail shares as investors awaited confirmation of a bumper Christmas and New Year shopping period.
The Warehouse was up 3c at 537, its highest level since November last year.
"That's on good volume, too," Mr Valk said.
Hallenstein Glassons was up 1c at 277, Michael Hill International was firm on 500, and Briscoe Group was up 1c at 177.
In other market news, shares in Carter Holt Harvey were down 1c at 188 after speculation that its paper tissue division could be sold to Swedish firm SCA Svenska Cellulosa.
TrustPower continued its sterling run, up 30c at 700, an all-time high. Contact Energy was up 5c at 549, NGC Holdings was up 2c at 226, and Powerco was down 1c at 196.
Meanwhile, shares on the rise today included: AMP up 5c at 580, Cavalier up 4c at 560, Freightways up 3c at 232, Lion Nathan up 10c at 705, NZX up 3c at 575, Telstra up 6c at 562, and Sky City up 3c at 465.
Among those on the slide were: Air NZ down 1c at 46, Auckland International Airport down 10c at 700, Fletcher Building down 4c at 428, Software down 25c at 180, and Baycorp Advantage down 2c at 310.
There had been $18,067 worth of shares traded on New Zealand Alternative Exchange so far today.
- NZPA
