New Zealand share prices closed 0.33 percent lower on Monday after sentiment was hurt by heavy losses on Wall Street and in the region, dealers said. The NZX-50 gross index fell 14.23 points to 4,270.91 on turnover worth 137.5 million dollars (105.4 million US). Falls led gains 63 to 40 among the 149 stocks traded.
"A bit of weakness in the local market today and that's in reaction to a large fall in the Dow Jones on Friday," said Grant Williamson of Hamilton Hindin Greene. Shares in casino operator Sky City bucked the trend, rising 18 cents to 5.19 dollars after announcing the departure of its managing director. "He's been there for a long time and the market's really been looking for more action on the Sky City front," Williamson said. "It appears the company's got a bit stale and I think it needs a bit more aggressive management in there."
Profit-taking pushed Fletcher Building down 22 cents to 12.48 dollars while Contact Energy rose five cents to 9.10. The strong New Zealand dollar weighed on exporters, including Fisher & Paykel Appliances, down six cents to 3.72 dollars and Fisher & Paykel Healthcare, off six cents to 3.39.
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