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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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