The New Zealand sharemarket's benchmark NZX50 index was down 8 points (0.2%) to 3213 on turnover of $33 million at 12.33pm on Friday.
Telecom was down 4 cents to a new low of $2.11. The phone company's share price has shed about 6% percent since it said earlier this week the Government's rural broadband plan would slice $168 million off earnings over the next three years.
Fletcher Building was down 2 cents to $8.30 while Contact Energy rose 1 cent to $6.04
Sky City Entertainment Group was 1 cents to $3.40, and Sky Network Television gained 1 cent to $5.03
Air New Zealand increased 1 cent to $1.33 after annoucing changes on its trans-Tasman route to boost numbers of lesiure travellers.
The Warehouse rose 4 cents to $3.90, and Kathmandu fell 2 cents to $2.36.
Nuplex was down 10 cents to $3.28 while AMP dropped 4 cents to $8.08.
Allied Farmers was unchanged at 7.1 cents.
In currency markets, the NZ dollar was trading at 71.49 US cents, 77.67 Australian, 46.84 pence, 64.62 yen and 0.5248 euro. The TWI stood at 65.93.
