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Market close: Shares close lower yet again

Thursday 11th September 2008

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The sharemarket fell slightly today with the NZSE50 down -0.31% to end the day at 3,333.

Top stock Telecom fell 0.7% and Fletcher Building dropped 2.0%, while Contact Energy was up 0.1%.

The retail sector was mixed with Michael Hill gaining an impressive 7.3%, The Warehouse Group was up 0.3% and Hallenstein Glasson rose 1.4%. Meanwhile, Pumpkin Patch lost 0.7%.

Among other stocks, Botry-Zen advanced 33.33%, Comvita up 9.68%, Turners Auctions up 8.97%, L & M Petroleum up 8.33%, ING Medical Properties and ProvencoCadmus both up 5.56% and Cavalier Corp jumped 5.2%.

Today's biggest decliners were OceanaGold Corporation down 7.14%, Postie Plus Group 6.67%, Richina Pacific 5.41%, Sky Network Television 4.03%, Smiths City Group down 3.85%.

Rakon, the New Zealand supplier of crystal oscillators for global positioning systems, was down 1.79% after saying earnings may rise this year, reflecting a weaker currency and increased sales to major customers.

Strategic Finance, the ailing finance company being acquired by its managers, today halted interest and dividend payments as it finalises a capital restructuring plan.

Reserve Bank governor Alan Bollard surprised the market with a bigger-than-expected interest rate cut, citing a marked slowdown in household spending and a deteriorating global economy.

Bollard cut his official cash rate (OCR) from 8% to 7.5%. All 10 economists surveyed by GoodReturns last week had been expecting a cut to 7.75%.

The benchmark S&P/ASX 200 index shed 91.2 points, or 1.9%, to 4814.3. The broader All Ordinaries dropped 89.9 points, or 1.81% to 4871.5.

The Dow Jones Industrial Average lifted 38.19 points, or 0.34% to settle at 11,268.92, while the broader Standard & Poor's 500 gained 7.53 points, or 0.61% to 1,232.04.
The NASDAQ rose 18.89 points, or 0.85%, to 2,228.7.

NZ Top 50 3,333.543 -10.320 (-0.31%)
ASX 200 4,814.300 -91.200 (-1.86%)
Dow 11,268.92 +38.19 (+0.34%)
Nasdaq 2,228.70 +18.89 (+0.85%)
FTSE 100 5,366.20 -49.40 (-0.91%)

 

AIA 2.04 0.00
AIR 1.07 -0.03
AMP 9.15 +0.23
ANZ 20.62 +0.01
APN 3.99 0.00
APT 1.09 +0.02
CAV 3.05 +0.15
CEN 8.83 +0.01
EBO 4.94 -0.01
FBU 7.35 -0.15
FPA 1.77 -0.02
FPH 3.14 +0.01
FRE 3.60 +0.09
GFF 1.80 +0.05
GMT 1.18 +0.02
GPG 1.31 -0.04
HLG 3.00 +0.04
IFT 2.18 -0.01
IMP 1.14 +0.06
ING 0.78 +0.01
KIP 1.16 +0.02
LNN 10.80 0.00
MFT 7.07 -0.02
MHI 0.88 +0.06
MVN 1.68 -0.02
NPX 6.35 +0.10
NZO 1.51 -0.03
NZR 6.51 -0.09
NZS 1.49 -0.03
NZX 6.84 +0.02
PFI 1.15 0.00
PGW 2.50 0.00
POT 6.95 -0.05
PPL 1.52 -0.01
PRC 1.76 0.00
RAK 2.75 -0.05
RYM 1.82 +0.07
SAN 6.05 +0.05
SKC 3.70 -0.06
SKL 0.99 -0.01
SKT 4.53 -0.19
STU 3.75 +0.02
TEL 3.01 -0.02
THL 1.35 0.00
TLS 5.13 0.00
TPW 8.22 +0.14
TWR 2.08 +0.01
VCT 2.30 +0.03
WBC 28.80 0.00
WHS 3.21 +0.01


 


 



 

 



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