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Market Close: Overseas markets see another troubled day

Friday 25th July 2008

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The sharemarket dropped sharply today with the NZSE50 down 1% to end the day at 3,254, however it didn't fare as bad as the ASX200 which plunged over 3%.

Top stocks Telecom added 0.6%, but Contact Energy plunged 4.1% and Fletcher Building tumbled 3.2%. BG Group would offload a half-stake in Contact Energy if it succeeds in a takeover of the New Zealand utility's parent, Origin Energy.

In the retail sector Hallenstein Glasson lost 2.4%, Michel Hill dipped 2.6%, The Warehouse Group slipped 0.5% and Pumpkin Patch closed unchanged.

After oil rebounded on Thursday, it saw New Zealand Oil and Gas climb 2.0% and other major gainers included Auckland International Airport 2.1% and Infratil 4.2%

Banks had a bad day with Westpac plunging 4.2% and ANZ slumped 7.8%. Air New Zealand fell 3.1% after chief executive Rob Fyfe said the national airline may have to raise fares and extend cost cuts because of the soaring price of jet fuel.

The benchmark S&P/ASX200 index finished down 173.6 points, or 3.37%, to 4970.5 following troubling news from NAB and a weak lead overnight from Wall Street.

The Dow closed down 283.10 points or 2.4% at 11,349.28, the Nasdaq closed down 45.77 points or 2% 2,280.11 and the S&P 500 closed down 29.65 points or 2.3% at 1,252.54.

NZ Top 50 3,254.161 -33.06 (-1.02%)
ASX 200 4,970.500 -173.600 (-3.37%)
Dow 11,349.28 -283.10 (-2.43%)
Nasdaq 2,280.11 -45.77 (-1.97%)
FTSE 100 5,362.30 -87.60 (-1.61%)

 

  NZX TOP 50  
As at: 25/07/2008 5:34pm
CODE
LAST
+/-

AIA
1.92 +0.04

AIR
1.24 -0.04

AMP
8.50 -0.60

ANZ
23.01 -1.94

APN
4.20 +0.03

APT
1.12 0.00

CAV
2.28 0.00

CEN
8.12 -0.35

EBO
4.55 -0.05

FBU
6.69 -0.22

FPA
2.07 -0.04

FPH
2.57 -0.05

FRE
3.00 -0.07

GFF
1.70 -0.02

GMT
1.18 -0.02

GPG
1.36 -0.02

HLG
2.80 -0.07

IFT
2.24 +0.09

IMP
1.16 +0.02

ING
0.84 +0.01

KIP
1.16 -0.01

LNN
11.16 -0.15

MFT
6.55 -0.10

MHI
0.76 -0.02

MVN
1.60 0.00

NPX
5.30 -0.05

NZO
1.54 +0.03

NZR
6.70 0.00

NZS
1.82 +0.07

NZX
7.25 -0.10

PFI
1.17 -0.01

PGW
2.60 +0.07

POT
6.54 -0.06

PPL
1.44 0.00

PRC
2.03 -0.02

RAK
2.73 -0.02

RYM
1.66 +0.02

SAN
5.30 -0.08

SKC
3.27 +0.02

SKL
0.85 +0.01

SKT
4.50 -0.04

STU
2.70 0.00

TEL
3.49 +0.02

THL
1.36 +0.02

TLS
5.63 -0.06

TPW
7.70 +0.10

TWR
2.13 +0.01

VCT
2.08 -0.03

WBC
27.50 -1.20

WHS
3.95 -0.02

 

 



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