New Zealand share prices closed 0.40 percent lower on Monday, dragged down by market leader Telecom, dealers said. The NZX-50 gross index fell 13.82 points to 3,470.60 on turnover worth 141 million New Zealand dollars (89.9 million US). Falls led gains 55 to 49 among the 142 stocks traded. Telecom fell 22 cents to 3.99 dollars after going ex-dividend on a 12 cent payout.