New Zealand shares fell, led by NZX after its annual costs rose more than expected. Australia & New Zealand Banking Group declined as its interest margins shrank in the last three months of 2014.
The NZX 50 Index fell 8.034 points, or 0.1 per cent, to 5750.211. Within the index, 20 stocks fell, 21 rose and nine were unchanged. Turnover was $154 million.
NZX, the stock market operator, fell 4.1 per cent to $1.16. NZX, which made its biggest-ever acquisition by buying funds manager SuperLife in 2014, posted annual profit growth of 8.3 per cent to $13.1 million in calendar 2014, below First NZ Capital's forecast of $15.2 million.
"They're a monopoly operator which always justifies a bit of a premium but investors think that result certainly didn't justify the price," James Smalley, director at Hamilton Hindin Greene said.
Dual-listed ANZ fell 2.6 per cent to $36.20 after its net interest margin shrank six basis points in the three months ended December 31, while lifting cash profit to $A1.79 billion ($NZ1.85 billion) in the first quarter from $A1.73 billion a year earlier.
"People were disappointed on the margin side, where there is probably some strong competition with the other major banks has squeezed those a bit," Mr Smalley said.
Dual-listed Westpac rose 1 per cent to $38.95 after its New Zealand unit reached a settlement with the Commerce Commission and Financial Markets Authority over the way it sold interest rate swaps to farmers between 2005 and 2012.
Spark NZ, formerly Telecom, fell 1 per cent to $3.315. Fletcher Building, the construction and building supplies company, rose 0.2 per cent to $8.74.
Outside the benchmark index, Opus International Consultants advanced 7.4 per cent to $1.45 after it lifted its full-year dividend payment 13 per cent to 8.9 cents per share as its annual profit rose 15 per cent to $26.2 million.
"The result they came out with, particularly increasing dividend payments, was a lot better than the market expected," Smalley said.
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