Tuesday 11th January 2011
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The New Zealand sharemarket fell in morning trade, after inching up yesterday.
Around 10.15am, the benchmark NZX-50 index was down 5.2 points at 3318.8, having yesterday ended up 6.1 points.
Among the top stocks, Telecom (NZX: TEL ) lost 1c to $2.17, Contact Energy (NZX: CEN ) fell 3c to $6.16, Fletcher Building (NZX: FBU ) fell 1c to $7.77, and Auckland Airport (NZX: AIA ) was unchanged at $2.22.
Retailers were mixed, after figures released yesterday showed a modest improvement in December spending accompanied by signs of consumer caution.
Meanwhile, US stocks recovered from early losses in light volume on Monday, ending little changed as prospects for strong earnings overcame fears Portugal would be forced into a bailout.
The Dow Jones industrial average was down 37.39 points, or 0.32%, at 11,637.37. The Standard & Poor's 500 Index was down 1.75 points, or 0.14%, at 1,269.75. The Nasdaq Composite Index was up 4.63 points, or 0.17%, at 2,707.80.
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