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Profit taking on NZ share market

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Profit taking on NZ share market

By: Sam Thompson | Business News | Friday May 4 2012 10:02

 

There's been profit taking on the New Zealand share market.

It's had a good run over the last four months going up nine percent since the first of January.

Businesses correspondent Roger Kerr says it was due for a profit takers correction and that appears to have started happening yesterday.

"The NZX50 index fell one percent yesterday, down 38 points to 3,576 and the large stocks like Telecom and Fletcher Building lost ground and dragged the index down."

Mr Kerr says the top ten listed companies were down 1.4 percent on the day.

 

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