Tuesday 16th September 2008
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The sharemarket plunged today with the NZSE50 down -2.79% to end the day at 3,227.
Top stock Telecom lost 4.4%, Contact Energy dropped 2.3%, and Fletcher Building retraced 3.9%.
In the retail sector, Michael Hill dropped 4.7%, Hallenstein Glasson lost 3.4%, Pumpkin Patch dipped 2.0% and The Warehouse Group was down 1.5%.
Among the losers were Heritage Gold down 11.54%, Postie Plus Group down 10.71%, AMP down 10.27%, Turners Auctions down 10.26% and Renaissance Corporation down 8.93%.
The financial sector was weaker today with ANZ dropping 3.6%, and Westpac down 2.4%.
Gains today included Mowbray Collectables up 44%, Dominion Finance up 20%, L & M Petroleum up 10.5%, Auckland International Airport up 1.0% and ING Medical Properties Trust gained 0.88%.
Plus SMS Holdings, whose CRE8 subsidiary provides mobile entertainment and connectivity services, said chief executive Chris Tiensch and chief financial officer Les Coates resigned. The shares fell 47% today.
Restaurant Brands NZ, which holds the local franchise for KFC, Pizza Hut and Starbucks, declined 1.54% after saying it lifted sales at its chicken outlets by 4.4% after sprucing up the stores and widening the menu.
At the close, the benchmark S&P/ASX200 was 66.9 points, or 1.39%, lower
The blue-chip Dow Jones Industrial Average tumbled below 11,000 with a loss of 504.48 points, or 4.42%, to 10,917.51. The Nasdaq composite plummeted 81.36 points, 3.60%, to 2,179.91 and the broad-market Standard & Poor's 500 index lost 59 points, or 4.71%, to 1,192.70.
|NZ Top 50||3,227.304||-92.598 (-2.79%)|
|ASX 200||4,750.800||-66.900 (-1.39%)|
|FTSE 100||5,204.20||-212.50 (-3.92%)|
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