Sky TV dropped 2 per cent to $4.41. Photo / Greg Bowker
New Zealand shares fell, led lower by Sky Network Television and Spark New Zealand, while Auckland International Airport gained after its first-half profit rose 19 per cent.
The S&P/NZX 50 index dropped 6.46 points, or 0.09 per cent, to 7093.52. Within the index, 25 stocks fell, 15 rose and 10
were unchanged. Turnover was $139.9 million.
"I'd have to say reporting season so far hasn't done much for the market, though it's still early days," said Grant Williamson, director at Hamilton Hindin Greene. "There's still a bit of nervousness around and I'd say we're going to have to start seeing some pretty reasonable results to see the sharemarket start to trade significantly higher."
Spark led the index lower for a second day in a row, down 2.3 per cent to $3.48. It fell on Thursday after lifting first-half earnings 3.5 per cent to $178 million and affirming its annual earnings outlook.
Sky TV dropped 2 per cent to $4.41. The shares declined on Thursday after Sky said it would not delay a merger with Vodafone NZ to give other telecoms companies, including Spark, time to appeal in court if the transaction is approved by the Commerce Commission. Williamson said the uncertainty was driving the share price lower.
