The New Zealand share market hit a three-week low today as a small number of stocks were able to post increase in a usually calm session.
Shares in investment Company, Guinness Peat Group fell by 5c in early trading following the elimination of New Zealand-based, Tony Gibbs as an Executive Director after he, in public, opposed strategy to spin off the company's Australian assets.
However, GPG shares made a little recovery and closed down 2c, or 2.9 per cent, at 66c.
The yardstick NZX-50 index closed down 17.34 points, or 0.6 per cent, at 2991.07, following yesterday's practically 26-point decline.
Top stocks were, in general, in the red, though Fletcher Building got profit of 3c to 798, Fisher & Paykel Healthcare too made profit of 3c, to 312, and Vector was up a cent at 218.
Telecom plunged a cent to 189, Auckland Airport was down by a cent at 188, Contact Energy too fell by 8c to 569, Sky City fell by 4c to 286, and Sky TV fell by 4c to 471.
Ebos Group fell by 8c to 618, the Warehouse saw a loss by 7c to 341, a 14-month low, and seafood exporter, Sanford was down by 12c at 390, which was its lowest level, since early 2008.
