Restaurant Brands underpinned a positive market for most of the day, with New Zealand and Australia outperforming Asia. However, declines in some of the NZX 50's larger companies saw a late turn on the index.
Spark fell 0.5 per cent to $3.88 on bigger than normal volumes after pay-TV operator Sky Network Television talked up its production and distribution advantage over broadband broadcasters in premium sports. Sky shares rose 2.3 per cent to $2.25.
McIntyre said Sky TV's depressed share price makes it vulnerable to a takeover, and that its ability to service the entire nation through satellite could be an advantage.
A2 gave up some of yesterday's gain, falling 1.7 per cent to $10.41. Contact declined 1.8 per cent to $5.63 after releasing its latest operating statistics. Like other generator-retailers, it's contending with low hydro storage and high wholesale prices.
Meridian Energy rose 0.8 per cent to $3.135 with 1.8 million shares changing changes, while Mercury NZ was unchanged at $3.34 on a volume of one million shares. Genesis Energy slipped 0.4 per cent to $2.45 on light volumes after saying it's buying coal and gas on the wholesale market ahead of expected coal imports in December.
Port of Tauranga rose 3.6 per cent to $5.12 on light volues after predicting earnings growth at its annual meeting yesterday. Fletcher Building rose 2 per cent to $6.23.
Z Energy fell 4.1 per cent to $6.35, the lowest since March 2016, on half its average volume. The transport fuels company yesterday reported lower retail petrol volumes in the September quarter. It may come under increased scrutiny from the government, which is fast-tracking legislation to give market studies powers to the Commerce Commission.
Synlait Milk fell 2.5 per cent to $9.60 on very light volumes. Ryman Healthcare was down 2.4 per cent to $12.48
Metlifecare slipped 0.2 per cent to $6. Chair Kim Ellis told shareholders the board is considering ways to reduce the stock's discount to net asset backing, including a potential buyback.
Comvita rose 1.3 per cent to $6.08 on very light volumes after shareholders were told the new strategy should lead to higher sales and earnings in the current financial year.