New Zealand share prices closed 1.53 percent lower on Monday, giving up strong early gains when the Australian market lost ground, dealers said. The benchmark NZX-50 index fell 43.92 points to 2,829.22 - after rising 45 points to a six-and-a-half month high in the first hour - on turnover worth 83.5 million dollars (51.0 million US).
Rising stocks outnumbered falls 38 to 36. Casino operator Sky City fell 10 cents to 2.94 dollars and Contact Energy fell 18 cents to 6.05. Retailer Postie Plus rose six cents to 36 cents after reporting a 7.3 percent lift in third-quarter sales. Trust Power rose five cents to 7.55 dollars, Sanford rose five cents to 5.75 and Rakon rose seven cents to 1.63. Freightways fell five cents to 3.07 dollars, Ebos fell 10 cents to 4.90, and pay television operator Sky TV fell 10 cents to 4.40.
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