Tuesday 26th August 2008
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The sharemarket fell slightly today with the NZSE50 down -0.18% to end the day at 3,321.
Top stock Telecom fell 1.8%, but third-ranked Fletcher Building edged up 0.1%.
Second-ranked Contact Energy gained 1.1%, after announcing annual profit fell 1% as constraints on the Cook Strait cable and low hydro-lake levels forced it to buy electricity at higher prices to supply South Island customers. Profit fell to NZ$237 million in the 12 months ended June 30 from NZ$239.6 million a year earlier, but Operating revenue rose 38% to NZ$2.76 billion.
In the retail sector, The Warehouse Group showed some glimmer of hope advancing 0.9%. However, Hallenstein Glasson dipped 1.8%, Michael Hill lost 1.1%, and Pumpkin Patch plunged 3.7%.
Other major losers included Plus SMS Holdings dropping 16.67% more than reversing yesterday's gains. Skellerup was up 7.2%, Rakon 3.3%, NZX 2.0% and Goodman Fielder 4.0%.
Among other top gainers, Dominion Finance gained 20%, AMP was up 1.7%, ANZ increased 2.4%, and Guinness Peat Group added 2.8%.
New Zealand Oil & Gas gained 2.7%, L & M Petroleum was up 13.33% and Heritage Gold was up 4%.
Air New Zealand was down 1.64%, after posting a 24% drop in profit as fuel costs surged and demand for travel waned.
The benchmark S&P/ASX200 index ended the day down 7.4 points, or 0.2%, to 5007.5, after trading as much as 2.4% lower during the morning.
The Dow Jones Industrial Average sank 241.81 points, or 2.08 %, to 11,386.25
and the Nasdaq dropped 49.12 points, or 2.03%, to 2,365.59.
The Standard & Poor's 500 broad-market index shed 25.36 points, or 1.96%, to 1,266.84.
|NZ Top 50||3,321.004||-5.913 (-0.18%)|
|ASX 200||5,007.500||-7.400 (-0.15%)|
|FTSE 100||5,505.60||+135.40 (+2.52%)|
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