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Market Close: Downwards trend continues for another session

Wednesday 2nd July 2008

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The trend continued downwards today as the market extended its losses for the fourth consecutive trading session.

The sharemarket fell slightly today with the NZSE50 down -0.37% percent from previous close, to end the day at 3,163.

The most actively traded stock was Telecom, with over 6.4 million shares changing hands, closing the day down 1.74% from its opening to end at $3.39 and Contact Energy plunged 3.1% to $7.88, but Fletcher Building gained 0.8% to $6.32.

In the retail space, Hallenstein Glasson jumped 3.2% to $2.61, Michael Hill surged 4.2% to 75c and Pumpkin Patch advanced 2.1% to $1.43. Hellaby Holdings lost 2.4% to $1.60 and The Warehouse Group shed 0.5% to $3.90.

The star of the day was Dorchester Pacific, up 64% to end at 22c, who announced that they expect to make full repayment to debenture and note holders under a deferred payment plan.

The Australian stock market closed at its lowest in more than three months after falls in the resource sector and big retailers. At the close, the benchmark S&P/ASX200 index was 44.1 points, or 0.86%, lower at 5094.8, while the broader All Ordinaries lost 49.5 points, or 0.94%, to 5211.6.

Wall Street finished moderately higher Tuesday on the back of a better than expected report on manufacturing along with some positive data within the automotive sector. The Dow Jones industrial average rose 32.25 points, or 0.28%, to 11,382.26. The Standard & Poor's 500 Index gained 4.91 points, or 0.38%, to 1,284.91.
The Nasdaq Composite Index advanced 11.99 points, or 0.52%, to 2,304.97.

NZ Top 50 3,163.386 -11.888 (-0.37%)
ASX 200 5,094.800 -44.100 (-0.86%)
Dow 11,382.26 +32.25 (+0.28%)
Nasdaq 2,304.97 +11.99 (+0.52%)
FTSE 100 5,479.90 -146.00 (-2.60%)

 

  NZX TOP 50  
As at: 2/07/2008 5:34pm
CODE
LAST
+/-

AIA
1.95+0.01

AIR
1.11+0.03

AMP
8.32+0.02

ANZ
23.24+0.60

APN
3.900.00

APT
1.15-0.01

CAV
2.30-0.02

CEN
7.88-0.25

EBO
4.24-0.11

FBU
6.32+0.05

FPA
1.940.00

FPH
2.35-0.02

FRE
2.95+0.01

GFF
1.75-0.03

GMT
1.21+0.01

GPG
1.39+0.02

HLG
2.61+0.08

IFT
1.86-0.01

IMP
1.12+0.02

ING
0.89-0.01

KIP
1.18-0.01

LNN
10.56+0.06

MFT
6.35+0.05

MHI
0.75+0.03

MVN
1.500.00

NPX
5.100.00

NZO
1.81-0.05

NZR
6.99-0.06

NZS
1.80+0.05

NZX
7.45+0.15

PFI
1.17+0.02

PGW
2.57+0.03

POT
6.65+0.15

PPL
1.43+0.03

PRC
2.40+0.05

RAK
2.88+0.08

RYM
1.66+0.01

SAN
5.18-0.01

SKC
3.10-0.02

SKL
0.83+0.01

SKT
4.20+0.05

STU
2.52-0.06

TEL
3.39-0.06

THL
1.40+0.05

TLS
5.30-0.05

TPW
7.68+0.16

TWR
1.92+0.02

VCT
1.93-0.01

WBC
24.50+0.20

WHS
3.93-0.02



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