New Zealand share prices closed 0.22 percent lower on Tuesday, with the spotlight on a sharp fall in Fisher & Paykel Healthcare in an otherwise quiet market, dealers said. The NZX-50 index fell 6.12 points to 2,734.08 on light turnover worth 84.9 million dollars (52.5 million US). The number of falling stocks outnumbered risers by 48 to 27.
Fisher and Paykel Healthcare's share price fell 20 cents to 2.87 dollars, after the company announced its outlook for the current year. "I think people were not happy with the revenue growth in US dollar terms, and the outlook for 2010," ASB Securities' head of advisory Stephen Wright said. The company announced a 76 percent rise in full-year net profit to 62.2 million dollars.
Market leaders Telecom and Fletcher Building helped stem losses for the key index, Wright said. Telecom rose 12 cents to 2.58 and Fletcher Building added seven cents to 6.34. Second-ranked Contact Energy fell four cents to 5.80 and casino operator Sky City fell two cents to 2.85.
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