Newzeland Stock Markets
New Zealand shares dropped, led by Kathmandu Holdings and Fisher & Paykel Healthcare, while NZX gained.
The S&P/NZX50 Index fell 33.31 points, or 0.4 percent, to 8,059.06. Within the index, 26 stocks fell, 17 rose and 7 were unchanged. Turnover was $151 million.
The market was expecting an announcement from Fletcher Building this morning increasing the losses at its building and interiors (B+I) unit.
The company was set to come out of the trading halt it was placed in last week at $7.77, but instead has extended the halt until Wednesday, saying it has yet to complete a review of key projects and has begun talks with lenders about breaching covenants.
CBL Corp also remained in a trading halt at $3.17.
The insurer says it hasn't worked out how much capital it needs to raise to satisfy regulatory solvency concerns and to finalise any transaction.
The stock was suspended from trading on the NZX last week as stock market operator NZX tries to work out whether CBL has kept the market informed of material information and met continuous disclosure obligations.
Kathmandu Holdings led the index lower, down 2.1 percent to $2.30, with Fisher & Paykel Healthcare down 2.1 percent to $12.45 and Ryman Healthcare dropping 1.9 percent to $10.50.
Contact Energy dropped 0.4 percent to $5.32.
It first-half adjusted earnings fell 11 percent to $236 million as the electricity generator-retailer dealt with a dry spell which sapped its hydro generation in what it described as a "highly competitive" market.
Net profit sank 40 percent to $58 million, or 8.1 cents per share, which it said was due to a greater reliance on thermal power supply. Revenue rose 15 percent to $1.19 billion.
NZX was the best performer, up 2.7 percent to $1.13.
A report by the New Zealand Institute of Economic Research, commissioned by the stock market operator, says NZX's role in keeping the cost of capital relatively low gives a $2.4 billion kicker to the broader economy.
Property For Industry gained 0.6 percent to $1.65. Its annual profit more than halved to $51.7 million as it bore the cost of buying out its management contract and reaped a smaller fair value gain on investment properties.
The S&P/NZX50 Index fell 33.31 points, or 0.4 percent, to 8,059.06. Within the index, 26 stocks fell, 17 rose and 7 were unchanged. Turnover was $151 million.
The market was expecting an announcement from Fletcher Building this morning increasing the losses at its building and interiors (B+I) unit.
The company was set to come out of the trading halt it was placed in last week at $7.77, but instead has extended the halt until Wednesday, saying it has yet to complete a review of key projects and has begun talks with lenders about breaching covenants.
CBL Corp also remained in a trading halt at $3.17.
The insurer says it hasn't worked out how much capital it needs to raise to satisfy regulatory solvency concerns and to finalise any transaction.
The stock was suspended from trading on the NZX last week as stock market operator NZX tries to work out whether CBL has kept the market informed of material information and met continuous disclosure obligations.
Kathmandu Holdings led the index lower, down 2.1 percent to $2.30, with Fisher & Paykel Healthcare down 2.1 percent to $12.45 and Ryman Healthcare dropping 1.9 percent to $10.50.
Contact Energy dropped 0.4 percent to $5.32.
It first-half adjusted earnings fell 11 percent to $236 million as the electricity generator-retailer dealt with a dry spell which sapped its hydro generation in what it described as a "highly competitive" market.
Net profit sank 40 percent to $58 million, or 8.1 cents per share, which it said was due to a greater reliance on thermal power supply. Revenue rose 15 percent to $1.19 billion.
NZX was the best performer, up 2.7 percent to $1.13.
A report by the New Zealand Institute of Economic Research, commissioned by the stock market operator, says NZX's role in keeping the cost of capital relatively low gives a $2.4 billion kicker to the broader economy.
Property For Industry gained 0.6 percent to $1.65. Its annual profit more than halved to $51.7 million as it bore the cost of buying out its management contract and reaped a smaller fair value gain on investment properties.
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