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Tech stocks slump in annual line-up

By Phil Boeyen, ShareChat Business News Editor

Wednesday 27th December 2000

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It'll come as little surprise to investors to learn that tech stocks have dived to the bottom of the heap in a simple comparison of this year's winners and losers on the NZSE.

The figures, which compare the difference between a company's price at the beginning of the year or when it floated and where it's at now, show companies such as IT Capital, E-Force, E-Phone, Strathmore, Savoy, Beauty Direct and Online and Advantage have all fallen sharply from favour.

Just looking at ordinary shares rather than rights and options, Savoy Equities, which last week announced it was exiting the tech sector, fell 91% while E-Phone fell 88% and E-Force 86%.

The figures are based on the gross difference between share prices and account for such factors as dividends and share splits.

Non-tech stocks bumping around the bottom of the barrel include National Mail and Aquaria. National Mail last week revealed it had lost more than $7.5 million in the six months to the end of June and was getting out of the mail distribution business, while Aquaria finally managed to sell off its troubled aquarium in China but is currently going nowhere fast.

However while tech stocks dominate the bottom end of the list, a couple are also near the top, with Renaissance rising 116% and GDC Communications 98%.

The group of stocks which win the most-improved category though is the rural sector, with Wrightson, Dairy Brands, Williams and Kettle and Tasman Agriculture all improving by more than 60%.

You can read the full list at
http://www.sharechat.co.nz/articles/20001227-nzseperformance.shtml
and read more on the rural sector at
http://www.sharechat.co.nz/articles/20001222-ruralstocks.shtml.

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