New Zealand share prices closed little changed on Monday with most interest focussed on retail stocks in muted trade due to a holiday in Wellington, dealers said. The benchmark NZSX-50 gross index added 1.89 points at 3,057.35 on turnover of 74.3 million New Zealand dollars (52.2 million US). Market leader Telecom slipped two cents to 6.11 dollars on turnover worth 36.1 million dollars.
There was also heavy interest in financial services firm Tower, which fell two cents to 2.21 dollars ahead of Tuesday's special meeting to discuss spinning off the Australian wealth management business.
Clothing retailer Hallenstein Glasson closed up 25 cents at 3.85 dollars after forecasting a 10 to 15 percent increase in interim earnings. The Warehouse continued to rally, up eight cents to 3.77 dollars. The discount retailer took a dive last week after it said its half year profit was likely to be three to 10 percent lower.
Amongst other retail stocks, Postie Plus rose one cent to 73 cents, Pumpkin Patch was up five cents at 3.15 dollars and Michael Hill Jeweller added one cent to 7.81 dollars.