New Zealand share prices fell slightly on Monday following profit-taking, dealers said. The benchmark NZSX-50 gross index closed down 5.27 points, or 0.16 percent, at 3,343.40 on turnover of 27.6 million shares worth 97.8 million dollars (67.39 million US dollars). Dealers said investors were cautious following the market's recent rallies.
"I think there certainly is some caution about the next six month's trading for most stocks in the market," First NZ Capital broker Malcolm Davie said.
Stocks such as market heavyweight Telecom, which dropped 0.09 to 6.23 dollars, were subject to profit-taking, said Forsyth Barr broker Richard Burton.
Telecom's annual results announced Friday - up four percent at 806 million dollars after taking out one-off items - were in line with analyst forecasts and failed to move the market significantly.
Waste Management closed down 19 cents at 6.59 dollars despite announcing its June half-year net profit rose 16 percent to 14.8 million dollars.
Freightways, which announced a 28 percent increase in net profits, fell fours cents to 3.28 dollars.
Second-largest stock Contact Energy halted the losses it experienced last week and gained four cents to 7.55 dollars.
Fletcher Building fell one cent to 7.13 dollars ahead of its profit announcement on Wednesday.
Auckland Airport gained five cents to 2.28 dollars and utilities investors Infratil shed two cents to close at 3.97 dollars. The New Zealand dollar remained relatively strong on Monday, following hawkish comments from the Reserve Bank of Australia.
The kiwi at 5:00 p.m (0500 GMT) was worth 69.11 US cents and 56.05 cents to the Euro.