New Zealand shares end flat

New Zealand share prices closed little changed Tuesday in the absence of any guidance from Wall Street after a holiday in the US, dealers said. The benchmark NZX-50 index fell 1.14 points, or 0.04 percent, to 3,121.55 on turnover worth 85 million dollars (59 million US). There were 50 rises and 23 falls among the 113 stocks traded.
Fletcher Building rose nine cents to 8.04 dollars amid growing optimism the New Zealand economy may be lifting out of recession. Fisher and Paykel Health fell nine cents to 3.38 dollars, a victim like some other exporters of the rising local dollar, which hit a year high of 69.35 US cents during the day.
Market leader Telecom fell seven cents to 2.71 dollars and Contact Energy dropped seven cents to 6.08 dollars. Resins maker Nuplex rose five cents to 2.40 dollars, Freightways gained nine cents to 3.06 dollars and discount retailer The Warehouse added three cents to 4.00.