New Zealand share prices fell 0.98 percent Friday with market heavyweight Telecom leading the way lower, dealers said. The benchmark NZSX-50 index closed down 32.57 points at 3,332.97 on turnover worth 131.5 million dollars (91.8 million US). Falls outnumbered rises by 70 to 35 amongst 147 stocks traded.
ABN Amro equities dealer Matt Willis said nothing specific had driven the market but the seven cent fall in Telecom to 6.20 dollars had been a surprise ahead of its dividend payout.
Earlier this month, Telecom announced it would pay a 10 cent ordinary dividend, and a 10 cent special dividend. Second-ranked stock Contact Energy was also down, easing four cents to 7.45 dollars.
Shares in Auckland International Airport were down six cents at 2.12 dollars after Thursday reporting a June-year net profit of 105.6 million dollars.
Infratril fell 10 cents to 3.86 dollars after saying it bought Kent airport in Britain for 17 million pounds (30.7 million US) from administrators.
Investment firm Hellaby Holdings, which recorded a slight rise in its June year net profit, closed unchanged at 5.95 dollars.
Fisher and Paykel Appliances rose a cent to 3.33 dollars after falling eight cents Thursday. It told shareholders earlier in the week it was struggling in its home market, particularly Australia.
Fisher and Paykel Healthcare decline 14 cents to 3.51 dollars.
Carter Holt Harvey was unchanged on 2.54 dollars and Fletcher Building fell 15 cents to 7.46.