Infratil, down 7.5c to $9.15, had its presence in the FTSE index upgraded and 10.62m shares worth $97.15m changed hands. Spark, moving into the S&P/ASX 200 Index, declined 3c to $5.10 on trade worth $42.45m.
Greg Smith, head of retail with Devon Funds Management, said strong economic data in the United States had not taken away the prospect of another interest rate hike by the Federal Reserve next week.
"We also had a stronger than expected GDP figure and the economies are not deteriorating," he said. "It's been a volatile week, with evidence that inflation is still high."
In the United States, first-time unemployment claims unexpectedly dropped, retail sales increased 0.3 per cent in August and the Philadelphia Fed manufacturing index fell. The 10 Year Treasury Note yield neared an 11-year high with a rise to 3.45 per cent, and the crude oil price was down to US$84.77 a barrel.
ANZ Research increased the official cash rate peak (OCR) to 4.75 per cent, from 4 per cent, with 25 basis points rises in February, April and May next year. ANZ said the economy was not rolling over and the Reserve Bank needed to see slower growth.
"It will get it but we think it'll take a higher OCR to do the job."
The energy sector was solid. Contact increased 3c to $7.85; Mercury improved 2c to $6.03; Genesis gained 3.5c to $3.02; Vector added 3c to $4.38; and Meridian was up 7c to $5.12.
In its latest operating report, Meridian told the market that by the middle of this month national hydro storage increased from 144 per cent to 162 per cent of historical average, and retail sales volumes were 5.8 per cent higher than in August last year.
My Food Bag told the market its chief executive Kevin Bowler was stepping down in mid-October after joining the company in June 2018. Its share price gained 3c or 4.96 per cent to 67c, nearly a third of the listing price in March last year.
Smith said My Food Bag has had a tough time since listing with "a fair set of challenges and perhaps a new room will breed new life into the company. Investors are certainly looking for a change in the direction of the share price."
Fisher and Paykel Healthcare went back under $20, falling 60c or 2.99 per cent to $19.45 on trade worth $41.44m.
Mainfreight shed $2.25 or 3.01 per cent to $72.50; a2 Milk was down 12c or 1.89 per cent to $6.24; Ebos Group declined 72c or 1.86 per cent to $38.05; and Restaurant Brands plunged 52c or 5.96 per cent to $8.20.
Air New Zealand, up 2.5c or 3.37 per cent to 69.5c, dismissed Australian media speculation about a potential merger transaction. Air NZ told the market it had not been approached and is not in discussions with any parties.
Stride Property rose 5c or 2.82 per cent to $1.82; Precinct Properties gained 3c or 2.21 per cent to $1.39; and Property for Industry was up 2.5c to $2.58.
Sanford increased 10c or 2.41 per cent to $4.25; Eroad rose 6c or 3.55 per cent to $1.75; Scott Technology gained 6c or 2.12 per cent to $2.89; Hallenstein Glass was up 8c to $5.35; Harmoney added 3c or 4 per cent to 78c; and Bremworth improved 2c or 3.77 per cent to 55c.
Amongst other decliners, T&G Global fell 6c or 2.22 per cent to $2.64; Michael Hill was down 3c or 2.36 to $1.24; The Warehouse shed 15c or 4 per cent to $3/.60; and Sky TV decreased 5c or 2.14 per cent to $2.29.
Napier Port, up 8c or 2.74 per cent to $3, completed its $100m five-and-a-half-year bond issue with a 5.52 per cent interest rate.
Turners Automotive has won the supreme title at the New Zealand Marketing Awards with its campaign "Tina from Turners". Turners' share price was unchanged at $3.70.
