Wednesday 19th January 2011
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The New Zealand sharemarket remained in the red today, refusing to follow the lead of a stronger Australian market and getting no steer from the US where markets were closed for a public holiday.
The benchmark NZX-50 index closed down 10.56 points, or 0.3%, at 3343.74, following yesterday's 15-point decline.
Having hit its highest level yesterday since May 2008 - $2.27 - Auckland Airport (NZX: AIA ) closed down 3c at $2.21.
The airport company released a study today showing its role in the regional and national economy was expected to grow "substantially" in the future.
A range of businesses on or near the airport, referred to as the Airport Corridor, would generate or facilitate $5-$6 billion annually in the regional economy by 2031, up from $3 billion now.
At a national level, the largest impact was from the tourism sector, while within the Auckland economy the largest impact would shift from freight-related activity to passenger activity, the study forecast.
Diligent Board Member Services (NZX: DIL ) gained 13c to 79, after reporting a strong December quarter. The stock earlier hit a three-year high of 80.
Kiwi Income Property Trust (NZX: KIP ) was up a cent at $1.00 after saying a change to international accounting rules will boost unit holders' funds by about $214 million.
Australia's S&P/ASX 200 Index was up 39 points, or 0.8%, at 4802.
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