Shares fall for second consecutive day; AIA, FAP and ATM lead declines

The S&P/NZX 50 Index decreased 15.36 points, or 0.1 percent, to 10,651.20. Within the index, 26 stocks fell, 15 rose, and nine were unchanged. Turnover was $83.7 million, with just five companies trading on volumes of more than a million shares.

Stock markets across Asia were subdued, with no firm lead from Wall Street ahead of second-quarter US corporate earnings. The next major domestic reporting season is in August, although boards will need to start updating investors as they get a handle on how their companies performed during the June half.

Grant Williamson, a director at Hamilton Hindin Greene, said companies will need to give guidance as they get "a better idea about what they've earned" but noted that there haven't been any downgrades or upgrades yet.

Auckland Airport led the market lower, down 2.3 percent at $9.48 on a volume of 557,000 shares, less than half its 90-day average. F&P Healthcare fell 1.8 percent to $15.46 on 333,000 shares, and A2 was down 0.9 percent at $16.40.