Late in the New Zealand trading day, Australia\u2019s S&P\/ASX 200 was down 43.10 points at 8,666.30. The index has lost 1.04% for the last five days, but sits just 1.25% below its 52-week high.<\/p>\n
The main influences on the local S&P\/NZX50 index were infrastructure investor Infratil, up 26c or 2.3% at $11.45, and medical supplies distributor Ebos, up 41c at $41.17.<\/p>\n
On the downside, utilities software provider Gentrack dropped by 61c or 5.5% to $10.52 after announcing it had been informed by an Australian customer it was no longer in the frame for replacing the customer\u2019s current platform.<\/p>\n
AdvertisementAdvertise with NZME.<\/a><\/p>\n \u201cWhilst the financial impact of this does not warrant disclosure, out of caution we are providing this update to our investors,\u201d Gentrack said.<\/p>\n Salt Funds managing director Matt Goodson said Gentrack had lost out to its main competitor, Kraken, which is part of Britain\u2019s Octopus Energy.<\/p>\n \u201cIt should not have come as a shock because it was suspected by some, but the actual confirmation of it has seen the stock fall,\u201d Goodson said.<\/p>\n Sky Network TV fell 8c to $3.06 after spiking higher earlier in the week on news it would buy the troubled Discovery NZ for $1.<\/p>\n Among the minor issues, takeover target Metro Performance Glass, which has a market cap of $9m, gained 0.3 of a cent to 5c.<\/p>\n Competitor Viridian NZ\u2019s 8c per share offer for Metro Glass is before the Commerce Commission, which today issued a \u201cStatement of Issues\u201d relating to the application.<\/p>\n \u201cThe commission has identified potential adverse competitive effects arising from a loss of competition between Viridian and Metro in glass processing, supply and installation markets where they are close competitors,\u201d it said.<\/p>\n Goodson said the commission \u201cclearly has issues\u201d with Viridian buying Metro Glass because they are the two major players in glass processing and installation.<\/p>\n