Muted Gains by NZX

Container terminal at Port of Tauranga

A lower market for Wall Street, after Friday's big surge upwards, cooled reaction on the NZ sharemarket today with the NZX 50 up just 3 points at 3315.

There were 70 rises and 47 falls.

Australian stocks led the gainers, with ANZ Bank up 55c at $27.65, Westpac up 50c to $27.30, Telstra ahead 14c (+3.3%) to $4.44 and AMP up 5c to $5.51.

Fletcher Building jumped 13c today at $6.54 , possibly in reaction to a better business confidence survey result from the BNZ. Port of Tauranga gained 10c to $10.60 and EBOS added 6c at $7.

Mainfreight rose 4c to $9.84 and retailer Kathmandu had a stronger day, up 4c to $1.70.

Decliners were led by gold miner OceanaGold, -6c at $3.20, and TrustPower was down 5c at $7.05. NZX shed 4c at $2.66.

The Warehouse fell 7c at $2.88, after lowering guidance on Friday and generating rating reviews by stockbrokers.

Windflow Technology added a sombre note, with the notice that the company's chairman, and wind energy champion, Barrie Leay had died whilst attending an energy conference in Australia.

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