New Zealand share prices closed little changed on Monday with take-over target Sky City the only standout in a typically quiet start to the week, dealers said. The benchmark NZX-50 index rose 1.52 points to close at 4,232.67 on turnover worth 118.2 million dollars (88.0 million US).
Falls outnumbered rises 49 to 42 among 139 stocks traded. Trading in casino and entertainment company Sky City made up over half of turnover as shares fell 14 cents to 5.14 dollars on profit-taking, after rising 95 cents on Friday following news of a possible takeover offer bid.
Market leader Telecom fell two cents to 4.27 and Fletcher Building recovered from a 27 cent decline earlier in the session to end flat at 12.80. Fletcher rose 40 cents on Friday after news it had successfully raised 235 million US dollars on the US debt market. Discount retailer The Warehouse dropped 48 cents to 5.60 after going ex-dividend on a 35 cent payout. Trade in Tourism Holdings Ltd remained on halt while 10 percent shareholder MFS Living and Leisure conducted a book build to offload its stake, following a failed take-over bid.
Sky TV fell seven cents to 5.45, Auckland International Airport was down eight cents at 3.16 and Port of Tauranga dropped 10 cents to 6.88. Fisher & Paykel Healthcare was down six cents at 3.39 and Fisher & Paykel Appliances fell six cents to 3.51.
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