Monday 8th September 2008
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The sharemarket surged upwards today with the NZSE50 up 1.15% to end the day at 3,374.
Top stock Telecom closed unchanged today, while second-ranked Contact Energy was slightly up by 4.19%, and the third best stock Fletcher Building was up 1.85%.
In the retail sector Hallenstein Glasson and Pumpkin Patch remained unchanged, Micheal Hill was down 4.76%, and The Warehouse Group was p .3%.
Today's gainers included CER Group up 16.67%, Heritage Gold up 9%, Smiths City up nearly 7%, Delegat's Group up 4.17%, ING Property Trust up 4%.
Not doing so well were Zintel Group down 22.22%, Botry-Zen down 11.76%, L & M Petroleum down 7.69%, Rakon down 2.78%.
Banks had a stella day with ANZ up 9.15% and WBC up 5%.
PGG Wrightson closed down 2.33% after the farmers who own Silver Fern Farms agreed to a proposed merger, that will provide a NZ$220 million capital injection and combine their livestock procurement businesses.
ConocoPhillips agreed to join Origin Energy's coal-seam gas venture in Queensland, a move that may thwart BG Group's hostile takeover bid for the Australian utility.
New Zealand second-quarter housing activity fell 7.3%, the third straight decline, suggesting the economy may have been even weaker than expected.
Banks led the gains today with the benchmark S&P/ASX 200 index ending the day up 190.4 points or 3.9% at 5067.5 points.
|NZ Top 50||3,374.404||+38.226 (+1.15%)|
|ASX 200||5,067.500||+190.400 (+3.90%)|
|FTSE 100||5,240.70||-121.40 (-2.26%)|
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