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Market Close: Continued weakness grips market

Monday 14th July 2008

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The market dropped today on the back of more worries in the US mortgage market, with the NZSE50 down -1.32% to end the day at 3,080.

Top stock Telecom fell 2.1%, Fletcher Building lost 2.0% and Contact Energy plunged 2.6%. Fisher&Paykel Healthcare and Auckland Airport dropped more than 2% each, Mainfreight shed 1.3% and Ebos declined 6.7%.

New Zealand Oil & Gas jumped 5.9% after oil held steady near recent highs. Other gainers included Pike River Coal 5.9%, F&P Appliances 1.6% and SkyCity 0.7% after the company reiterated its profit forecast.

Retailer The Warehouse tumbled 3.5% on disappointing retail sales data. Among other retailers, Hallenstein Glasson rose 2.3%, but Michael Hill lost 1.3% and Pumpkin Patch declined 0.7%.

The benchmark S&P/ASX 200 index fell 58.9 points to 4921.0 with finance leading the fall on continued concerns about credit markets.

The Dow closed down 128.48 points or 1.1% at 11,100.54, the Nasdaq closed down 18.77 or 0.8% at 2,239.08 and the S&P 500 closed down 13.90 points or 1.1% at 1,239.49. Investors battled with continued weakness in the financial sector, as well as soaring oil prices

NZ Top 50 3,080.103 -41.442 (-1.33%)
ASX 200 4,921.000 -58.900 (-1.18%)
Dow 11,100.54 -128.48 (-1.14%)
Nasdaq 2,239.08 -18.77 (-0.83%)
FTSE 100 5,331.70 +70.10 (+1.33%)


  NZX TOP 50  
As at: 14/07/2008 5:34pm
CODE
LAST
+/-

AIA
1.90-0.04

AIR
1.08-0.01

AMP
8.27+0.12

ANZ
22.41-0.65

APN
3.900.00

APT
1.05-0.01

CAV
2.15+0.01

CEN
7.40-0.20

EBO
4.20-0.30

FBU
6.25-0.13

FPA
1.95+0.03

FPH
2.30-0.05

FRE
2.96-0.05

GFF
1.73+0.01

GMT
1.07-0.02

GPG
1.31-0.02

HLG
2.63+0.06

IFT
1.92-0.04

IMP
1.110.00

ING
0.85-0.01

KIP
1.11-0.02

LNN
10.66-0.20

MFT
6.32-0.08

MHI
0.76-0.01

MVN
1.59-0.01

NPX
5.17+0.01

NZO
1.80+0.10

NZR
6.51-0.39

NZS
1.820.00

NZX
7.10-0.19

PFI
1.140.00

PGW
2.55-0.05

POT
6.30-0.10

PPL
1.43-0.01

PRC
2.16+0.12

RAK
2.78-0.02

RYM
1.61-0.03

SAN
5.13-0.05

SKC
3.02+0.02

SKL
0.840.00

SKT
4.15-0.02

STU
2.63+0.03

TEL
3.32-0.07

THL
1.400.00

TLS
5.630.00

TPW
7.67-0.03

TWR
1.96+0.01

VCT
1.99+0.01

WBC
24.40+0.59

WHS
3.86-0.14



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