Market Close: Offshore and local markets gain ground

Thursday 26th June 2008

The sharemarket main gains today with the NZX up 33% (+10.672) to end the day at 3,291.965. Falls outweighed rises by 56 to 51.

Telecom NZ, closing the day up 1c from it's opening to $3.63, Pike River Coal increased over 6% to $2.33 while Dorchester Pacific dropped 29% to .15.

The benchmark S&P/ASX200 index was 69.2 points, or 1.32%, higher at 5307, while the broader All Ordinaries gained 58.4 points, or 1.09%, to 5421.5. The banks were again in favour helping the index climb. Commonwealth Bank gained $1.96 to $40.90, ANZ added 38 cents to $19.00, National Australia Bank put on 66 cents to $28.06 and Westpac picked up 84 cents to $21.39.

US shares rose after the Federal Reserve made the decision to leave interest rates at 2%. At the close, the Dow Jones Industrial Average rose +4.40 (+0.04%) to 11,811.83 and the Nasdaq composite increased +32.98 (+1.39%) to 2,401.26.

The main changes in the NZ market were:

Telecom Corporation	3.630	0.010 (0.28%)
Fletcher Building Limited	6.730	0.080 (1.20%)
Pike River Coal Limited	2.330	0.150 (6.88%)
New Zealand Oil & Gas Limited	1.690	-0.050 (2.87%)
Rubicon Limited	0.930	-0.050 (5.10%)
Sky City Entertainment Group	3.150	-0.050 (1.56%)
Fisher & Paykel Appliances	1.980	0.020 (1.02%)
Fisher & Paykel Healthcare	2.310	-0.020 (0.86%)
Auckland International Airport	1.930	0.010 (0.52%)
Dorchester Pacific Limited	0.150	-0.060 (28.57%)
Opus International Consultants	1.550	-0.150 (8.82%)
Guinness Peat Group Plc	1.420	0.030 (2.07%)
Pumpkin Patch Limited	1.530	0.030 (2.00%)

NZ Top 50	3,291.965	+10.672 (+0.33%)
ASX 200	5,307.000	+69.200 (+1.32%)
Dow	11,811.83	+4.40 (+0.04%)
Nasdaq	2,401.26	+32.98 (+1.39%)
FTSE 100	5,666.10	+31.40 (+0.56%)

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