The New Zealand sharemarket is down on Wednesday, declining 4 points or 0.2%, to 2808 on turnover of $42 million.
At 12.16pm on Wednesday, Telecom was down 3 cents at $2.55, Contact Energy was down 6c to $6.06 and Fletcher Building was unchanged at $6.75.
Lion Nathan was up 4c to $14.75. NZX was up 15c to $8.15.
PGG Wrightson was up 5c to $1.45. Tourism Holdings was down 2c to 50c.
New Zealand Oil & Gas was up 4c to $1.53.
In currency markets, the New Zealand dollar was at 60.90 US cents, 79.20 Australian cents, 39.77 pence, 58.61 yen and 0.4448 euro. The Trade Weighted Index was at 58.78.
The Australian share market opened marginally stronger Wednesday morning - a day the federal budget was delivered.
At 10.15am (AEST), the S&P/ASX200 was up 12.1 points, or 0.31%, at 3889.3, while the All Ordinaries gained 8.7 points, or 0.23%, to 3872.3.
On the Sydney Futures Exchange, the June share price index contract was trading 17 points higher at 3885 on volume of 4,900 contracts.
The four major banks were mostly higher at 10.20am (AEST).
BHP was down five cents, or 0.15%, at $A34.26, while Rio Tinto lost $3.02, or 4.41%, to $A65.46.
By 10.45am (AEST), national turnover had reached 701.1 million shares, worth $A961.6 million.
Other markets
Wall Street had a mixed finish on Tuesday.
The Dow Jones Industrial Average was up 50.34 points, or 0.6%, to settle at 8,469.11.
The Nasdaq dropped 15.32 points, or 0.88%, to 1,715.92 while the Standard & Poor's 500 index lost 0.89 point, or 0.1%, to settle at 908.35.
The FTSEurofirst 300 index of top European shares closed 0.2% lower at 852.62 points.
In Frankfurt, the DAX index ended at 4,854.11 points, down 12.8 or 0.26%. In Paris, the CAC-40 index closed at 3,231.1 points, down 17.57 or 0.54%.
In London, the FTSE 100 closed 9.96 points lower, or 0.2% at 4,425.54, after losing 0.6% on Monday. The index is down 0.2% for the year.
