Sharechat Logo

Market Close: Bargain hunters push market higher

Wednesday 16th July 2008

Text too small?

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 unchanged.
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 1.5%.

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.

NZ Top 50 3,059.357 +18.904 (+0.62%)
ASX 200 4,870.600 +54.900 (+1.14%)
Dow 10,962.54 -92.65 (-0.84%)
Nasdaq 2,215.71 +2.84 (+0.13%)
FTSE 100 5,171.90 -128.50 (-2.42%)

 

  NZX TOP 50  
As at: 16/07/2008 5:34pm
CODE
LAST
+/-

AIA
1.86 +0.01

AIR
1.10 +0.01

AMP
8.11 +0.28

ANZ
22.52 +0.67

APN
3.90 0.00

APT
1.05 0.00

CAV
2.15 -0.03

CEN
7.40 +0.26

EBO
4.21 -0.04

FBU
6.04 -0.01

FPA
1.98 +0.03

FPH
2.23 -0.04

FRE
2.95 -0.05

GFF
1.65 -0.02

GMT
1.11 +0.03

GPG
1.29 -0.01

HLG
2.65 0.00

IFT
1.95 +0.02

IMP
1.09 -0.02

ING
0.83 0.00

KIP
1.10 -0.01

LNN
10.76 +0.14

MFT
6.32 -0.01

MHI
0.73 -0.02

MVN
1.55 -0.01

NPX
5.14 +0.02

NZO
1.71 -0.08

NZR
6.55 +0.02

NZS
1.75 -0.07

NZX
6.70 -0.25

PFI
1.13 -0.02

PGW
2.40 -0.10

POT
6.31 +0.01

PPL
1.42 +0.02

PRC
2.12 +0.02

RAK
2.60 -0.05

RYM
1.57 -0.06

SAN
5.13 0.00

SKC
2.98 +0.02

SKL
0.81 -0.03

SKT
4.15 -0.02

STU
2.55 -0.08

TEL
3.38 +0.07

THL
1.40 0.00

TLS
5.39 -0.11

TPW
7.52 -0.13

TWR
1.98 +0.03

VCT
1.99 0.00

WBC
24.45 +0.78

WHS
3.90 0.00



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

28th October 2021 Morning Report
Wellington Drive Technologies Limited (NZX: WDT) Performs Strongly in Q3-2021
Ryman Healthcare Limited (NZX: RYM) Acquires Extensions to Two Existing Victorian Sites
Promisia Healthcare Limited (NZX: PHL) Banking Covenant Update
Pictor Limited Announces Start of US Clinical Trials for SARS-CoV-2 Serology Test
Arvida Group Limited (NZX: ARV) Opening of Rights Offer
Move Logistics Group Limited (NZX: MOV) Announces $40m Capital Raise
27th October 2021 Morning Report
The a2 Milk Company Limited (NZX: ATM) Investor Day 2021
Contact Energy Limited (NZX: CEN) Considers Green Capital Bond Offer