Solid sales for Restaurant Brands and a projected amalgamation to create a new bank failed to raise the New Zealand sharemarket out of the red today.

The standard NZX-50 index was lost by 0.2 per cent, or 6.5 points, to close at 3054.76.

With chief offshore markets closed last night, no real clear way could be seen, said Hamilton Hindin Greene Director, Grant Williamson.

It will be all eyes on the Dow Jones tonight after the long weekend.

Fast food operator Restaurant Brands offered one of the highlights today, by jumping 7c, or 3 per cent, to 232, after an optimistic quarterly sales update this morning.

The corporation reported a 4.2 per cent increase in first quarter sales, with KFC up 8.5 per cent, though sales at the Starbucks Coffee and Pizza Hut brands were seen to take up a down path.

Top stock Telecom, on the other hand, was trading near historic lows, closing down 3c at 187.

Amongst other blue chips, Auckland International Airport was up by 2c at 190, Contact Energy saw a profit of 6c to 593, Sky City lost 2c to 295, and Fletcher Building was down 4c at 822.

Finance services stock Pyne Gould Corp increased by a cent to 45 after news of an intended amalgamation between its banking operations, Southern Cross Building Society and Canterbury Building Society.