Monday 30th June 2008
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The market opened on a weak note after Wall Street continued to decline on Friday due to concerns that record oil prices and the seemingly endless credit crisis will further damage the economy.
The NZX 50 Index finished the day 32 points ( 1.0%) down on last Friday's close, at 3195. Prices were easy with 75 falls and 31 rises. Total turnover was $125,558,820
Top stock Telecom lost 0.6% to $3.57 and second-ranked Contact Energy plunged 2.6% to $7.99. Retailers continued to languish. Hallenstein Glasson slumped 9.7% to $2.42, Michael Hill fell 2.7% to 72c, Pumpkin Patch plunged 3.4% to $1.43 and The Warehouse Group lost 2.2% to $4.10.
CDL Investments gained 6.25% to end on 34c, NZ Oil and Gas was up 4.71%, to
$1.78 and Pike River Coal Ltd ended at $2.45, up 3.81%
At the close, the benchmark S&P/ASX200 index had fallen 21 points, or 0.41%, to 5215 while the broader All Ordinaries surrendered 16.5 points, or 0.31%, to 5332. Resources and gold stocks strengthened today but weakness among the major banks weighed upon the bourse.
US stocks fell on Friday, pushing the Dow to the brink of a bear market. Continued stresses within the financial sector along with rising oil prices kept the markets under pressure.
The Dow Jones industrial average dropped 106.91 points, or 0.93%, to 11,346.
The Standard & Poor's 500 Index fell 4.77 points, or 0.37%, to 1,278, while
the Nasdaq Composite Index slipped 5.74 points, or 0.25%, to 2,315.
|AMP||down 5||to $ 8.43|
|APN News & Media||down 15||to $ 3.83|
|Caledonia Investment plc||down 181||to $ 45.02|
|Contact Energy||down 21||to $ 7.99|
|Guinness Peat Group Plc||down 2||to $ 1.37|
|PGG Wrightson||down 10||to $ 2.50|
|SKYTV||down 13||to $ 4.12|
|Steel & Tube Holdings||down 32||to $ 2.58|
|Telecom Corp of NZ||down 2||to $ 3.57|
|Telstra Corp||down 2||to $ 5.50|
|The Warehouse Group||down 9||to $ 4.10|
|Westpac Banking Corp||down 128||to $ 25.20|
|ANZ Banking Group||up 55||to $ 23.80|
|Auckland Intl Airport||up 2||to $ 1.95|
|F&P Healthcare Corp||up 5||to $ 2.35|
|Lion Nathan||up 23||to $ 10.80|
|New Zealand Oil & Gas||up 8||to $ 1.78|
|PIKERIVER||up 12||to $ 2.45|
|Vector Ltd Ordinary||up 2||to $ 1.92|
|NZ Top 50||3,194.614||-32.297 (-1.00%)|
|ASX 200||5,215.300||-21.700 (-0.41%)|
|FTSE 100||5,529.90||+11.70 (+0.21%)|
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