Wednesday 1st October 2008
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The sharemarket closed higher today with the NZSE50 up 3.16% to end the day at 3,187.
Top stock Telecom was up 3.30%, Fletcher Building jumped 6.67% and Contact Energy rose 1.53%.
In the retail sector, Hallensteins Glasson was up 4%, Michael Hill International was up 16.42%, The Warehouse Group was up 5.63% and Pumpkin Patch dropped .78%.
Other gainers today included PGG Wrightson up 18%, Charlie's Group up12%, Methven up 7% and technology stock Rakon increased 5.5%. Fisher and Paykel Healthcare was up 2.7% and Fisher and Paykel Appliances advanced 3.8%.
Sealegs Corporation was down 3.57%, Turners & Growers lost 2.99%, Westpac Banking Corporation lost 2.36%.
It was reported today that New Zealand employment confidence rose from a record low in the September quarter, adding to signs the economy may have lifted off the bottom since June amid interest rate cuts and the prospect of lower taxes.
PGG Wrightson, New Zealand's biggest rural services company, announced today that it is unable to settle the NZ$220 million acquisition of a half stake in Silver Fern Farms because of the global credit squeeze. Shares closed up 18%.
The benchmark S&P/ASX 200 index was up 3.64%, or 167.3 points, to 4767.8.
The Dow Industrials index picked up 485.21 points, or 4.68%, to 10,850.66,
while the broader S&P500 ran 58.35 points, or 5.27%, to 1,164.74.
The NASDAQ, which carries tech and more recently listed heavyweights, climbed 98.6 points, or 4.97%, to 2,082.33.
|NZ Top 50||3,187.961||+97.745 (+3.16%)|
|ASX 200||4,767.800||+167.300 (+3.64%)|
|FTSE 100||4,902.45||+83.68 (+1.74%)|
NZX Top 50
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