Market Close: NZ bucks the trend

Tuesday 8th July 2008

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	3.90	0.00
APT	1.10	-0.02
CAV	2.20	-0.05
CEN	7.72	+0.12
EBO	4.20	0.00
FBU	6.53	+0.31
FPA	1.86	+0.03
FPH	2.30	+0.01
FRE	3.00	0.00
GFF	1.80	+0.07
GMT	1.18	-0.02
GPG	1.35	-0.02
HLG	2.60	0.00
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	1.78	0.00
NZX	7.40	+0.05
PFI	1.18	0.00
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	1.64	0.00
SAN	5.10	-0.05
SKC	3.15	-0.02
SKL	0.81	0.00
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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