Market close: Shares fall just slightly

Tuesday 26th August 2008

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%)
Dow	11,386.25	-241.81 (-2.08%)
Nasdaq	,365.59	-49.12 (-2.03%)
FTSE 100	5,505.60	+135.40 (+2.52%)

AIA	2.01	0.00
AIR	1.20	-0.02
AMP	8.03	+0.13
ANZ	19.99	+0.47
APN	3.86	0.00
APT	1.05	0.00
CAV	2.72	+0.02
CEN	8.40	+0.09
EBO	4.95	0.00
FBU	7.32	+0.01
FPA	1.80	0.00
FPH	2.98	0.00
FRE	3.38	+0.03
GFF	1.69	-0.07
GMT	1.16	+0.01
GPG	1.48	+0.04
HLG	2.80	-0.05
IFT	2.16	0.00
IMP	1.09	-0.01
ING	0.77	+0.01
KIP	1.12	+0.01
LNN	11.05	0.00
MFT	7.18	-0.02
MHI	0.93	-0.01
MVN	1.69	0.00
NPX	6.25	0.00
NZO	1.54	+0.04
NZR	7.05	-0.05
NZS	1.59	-0.01
NZX	7.43	-0.15
PFI	1.17	+0.01
PGW	2.75	-0.03
POT	7.21	+0.01
PPL	1.55	-0.06
PRC	1.80	0.00
RAK	2.93	-0.10
RYM	1.77	-0.01
SAN	5.92	+0.01
SKC	3.41	-0.01
SKL	0.90	-0.07
SKT	4.73	-0.07
STU	3.26	+0.01
TEL	3.30	-0.06
THL	1.45	0.00
TLS	5.30	-0.10
TPW	7.85	0.00
TWR	2.23	-0.04
VCT	2.30	-0.02
WBC	27.90	-0.05
WHS	3.38	+0.03

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