The markets moved into positive territory today as bargain hunters came out
to play, pushing the NZSE50 up 0.62% to end the day at 3,059.
Top stock Telecom surged 2.1% and second-ranked Contact Energy jumped 3.6%,
while Fletcher Building gave back 0.2%. TrustPower fell 1.7% and Vector closed
Following a steep fall in oil prices overnight, New Zealand Oil & Gas plunged
4.5% but The New Zealand Refining Company added 0.3%.
Banking stocks recovered, with ANZ jumping 3.1% and Westpac surging 3.3%.
Rakon fell 1.9% and Fisher & Paykel Healthcare dropped 1.8% on the back
of a stronger New Zealand dollar. However, Fisher & Paykel Appliances rose
The benchmark S&P/ASX200 index closed 54.9 points, or 1.1%, higher at 4870.6
with bargain hunters snapping up banking shares.
While the Nasdaq closed up 2.84 points or 0.1% 2,215.71, the Dow closed down
92.65 points or 0.8% at 10,962.54 and the S&P 500 closed down 13.39 points
or 1.1% at 1,214.91.