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Market Close: NZ bucks the trend

Tuesday 8th July 2008

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Whilst overseas markets dipped, the New Zealand market bucked the trend and surged upwards today, with the NZSE50 up 1.25% to end the day at 3,161.

Top stock Telecom jumped 2.7%, the second-ranked Contact Energy advanced 1.6% and Fletcher Building surged 5.0%. The retail sector was mixed with The Warehouse Group gaining 0.8%, Michael Hill rising 1.3%, however Pumpkin Patch fell 2.6% while Hallenstein Glasson was unchanged.

Among other major gainers, Auckland International Airport jumped 4.3%, Goodman Fielder soared 4.1%, Lion Nathan increased 4.5% and energy stock Vector climbed 1.0%. New Zealand Oil and Gas added 1.2%

The benchmark S&P/ASX200 index closed 1.39% lower at 4932.9, while the broader All Ordinaries lost 1.36% to 5022.4 with banks and energy shares pulling it down.

U.S. stocks fell overnight on lingering concerns about the financial sector. The leading Dow Jones Industrial Average declined 56.58 points, or 0.50%, to end at 11,231.96. The Nasdaq composite dropped 2.06 points, or 0.09%, to 2,243.32 while the Standard & Poor's 500 index fell 10.59 points, or 0.84%, to 1,252.31.

 

NZ Top 50 3,160.586 +39.141 (+1.25%)
ASX 200 4,936.400 -66.100 (-1.32%)
Dow 11,231.96 -56.58 (-0.50%)
Nasdaq 2,243.32 -2.06 (-0.09%)
FTSE 100 5,512.70 +99.90 (+1.85%)

  NZX TOP 50  
As at: 8/07/2008 5:34pm
CODE
LAST
+/-

AIA
1.95+0.08

AIR
1.10+0.01

AMP
8.25-0.15

ANZ
23.91-0.42

APN
3.900.00

APT
1.10-0.02

CAV
2.20-0.05

CEN
7.72+0.12

EBO
4.200.00

FBU
6.53+0.31

FPA
1.86+0.03

FPH
2.30+0.01

FRE
3.000.00

GFF
1.80+0.07

GMT
1.18-0.02

GPG
1.35-0.02

HLG
2.600.00

IFT
1.86+0.03

IMP
1.11-0.01

ING
0.86-0.02

KIP
1.14-0.02

LNN
11.29+0.49

MFT
6.40+0.11

MHI
0.76+0.01

MVN
1.60+0.02

NPX
5.00-0.05

NZO
1.72+0.02

NZR
6.97-0.03

NZS
1.780.00

NZX
7.40+0.05

PFI
1.180.00

PGW
2.57+0.02

POT
6.35+0.10

PPL
1.48-0.04

PRC
2.10-0.08

RAK
2.80+0.04

RYM
1.640.00

SAN
5.10-0.05

SKC
3.15-0.02

SKL
0.810.00

SKT
4.20-0.05

STU
2.51+0.03

TEL
3.47+0.09

THL
1.31-0.02

TLS
5.48+0.01

TPW
7.33-0.07

TWR
1.95-0.02

VCT
1.94+0.02

WBC
25.15+0.15

WHS
3.98+0.03



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