Market Close: Losses extended for another day

Tuesday 15th July 2008

The sharemarket closed sharply lower today, extending yesterday's 1.35% decline, with the NZSE50 down -1.29% (-39.65 points) to end the day at 3,040

Top stock Telecom dipped 0.3%, while Contact Energy plummeted 3.5% and Fletcher Building plunged 3.2%.

The retailers were mixed, with The Warehouse Group rising 1.0%, Hallenstein Glasson adding 0.8%, Michael Hill losing 1.3% and Pumpkin Patch plunging 2.1%.

Banks were lower on lingering worries about the financial sector, ANZ was down 2.5% and WBC dropped nearly 3%.

Other major losers included Auckland Airport 2.6%, Goodman Fielder 3.5%, ING Property Trust 2.4%, New Zealand Exchange 2.1%. PGG Wrightson 2.0%, Pike River Coal 2.8% and Rakon 4.7%.

At the close, the benchmark S&P/ASX200 index was 105.3 points, or 2.1% lower at 4815.7, its lowest close in nearly 2.5 years. The decline equated to another more than $20 billion being wiped off the market's value and brought the losses in this year to 24%. The broader All Ordinaries dropped 97.8 points, or 2%, to 4910.1.

The blue-chip Dow Jones Industrial Average dragged down by financial stocks, fell 45.35 points, or 0.41%, to 11,055.19 and the Standard & Poor's 500 index declined 11.19 points to 1,228.30. The Nasdaq composite index shed 26.21 points to 2,212.87.

NZ Top 50	3,040.453	-39.650 (-1.29%)
ASX 200	4,815.700	-105.300 (-2.14%)
Dow	11,055.19	-45.35 (-0.41%)
Nasdaq	2,212.87	-26.21 (-1.17%)
FTSE 100	5,300.40	+38.80 (+0.74%)

NZX TOP 50
As at: 15/07/2008 5:34pm
CODE	LAST	+/-
AIA	1.85	-0.05
AIR	1.09	+0.01
AMP	7.83	-0.44
ANZ	21.85	-0.56
APN	3.90	0.00
APT	1.05	0.00
CAV	2.18	+0.03
CEN	7.14	-0.26
EBO	4.25	+0.05
FBU	6.05	-0.20
FPA	1.95	0.00
FPH	2.27	-0.03
FRE	3.00	+0.04
GFF	1.67	-0.06
GMT	1.08	+0.01
GPG	1.30	-0.01
HLG	2.65	+0.02
IFT	1.93	+0.01
IMP	1.11	0.00
ING	0.83	-0.02
KIP	1.11	0.00
LNN	10.62	-0.04
MFT	6.33	+0.01
MHI	0.75	-0.01
MVN	1.56	-0.03
NPX	5.12	-0.05
NZO	1.79	-0.01
NZR	6.53	+0.02
NZS	1.82	0.00
NZX	6.95	-0.15
PFI	1.15	+0.01
PGW	2.50	-0.05
POT	6.30	0.00
PPL	1.40	-0.03
PRC	2.10	-0.06
RAK	2.65	-0.13
RYM	1.63	+0.02
SAN	5.13	0.00
SKC	2.96	-0.06
SKL	0.84	0.00
SKT	4.17	+0.02
STU	2.63	0.00
TEL	3.31	-0.01
THL	1.40	0.00
TLS	5.50	-0.13
TPW	7.65	-0.02
TWR	1.95	-0.01
VCT	1.99	0.00
WBC	23.67	-0.73
WHS	3.90	+0.04

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