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Market Close: Losses extended for another day

Tuesday 15th July 2008

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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
3.900.00

APT
1.050.00

CAV
2.18+0.03

CEN
7.14-0.26

EBO
4.25+0.05

FBU
6.05-0.20

FPA
1.950.00

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
1.110.00

ING
0.83-0.02

KIP
1.110.00

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
1.820.00

NZX
6.95-0.15

PFI
1.15+0.01

PGW
2.50-0.05

POT
6.300.00

PPL
1.40-0.03

PRC
2.10-0.06

RAK
2.65-0.13

RYM
1.63+0.02

SAN
5.130.00

SKC
2.96-0.06

SKL
0.840.00

SKT
4.17+0.02

STU
2.630.00

TEL
3.31-0.01

THL
1.400.00

TLS
5.50-0.13

TPW
7.65-0.02

TWR
1.95-0.01

VCT
1.990.00

WBC
23.67-0.73

WHS
3.90+0.04



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