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Thursday 10th July 2008 |
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The two-day winning streak came to an abrupt end today. The market plunged with the NZSE50 down -2.04% to end at 3,113.
Top stock Telecom dropped 4.0%, the second-ranked Contact Energy fell 1.4% and Fletcher Building, the third best stock, plummeted 4.5%.
Falls outweighed rises by 75 to 28, with the biggest loser being Geneva Finance down 16%, while the stars of the day were Savoy Equities, up 171.43%, Diligent up 38.89% and Burger Fuel up 15%.
In the retail sector Hallenstein Glasson and Pumpkin Patch dropped 3.4% each,
Michael Hill slumped 7.1% and The Warehouse Group fell 1.7%.
Australian stocks were also hit hard with resources and the banks leading the
decline across the tasman. The benchmark S&P/ASX200 index lost 74.5 points,
or 1.49%, to 4937.4, while the broader All Ordinaries was down 68.9 points,
or 1.35%, to 5020.5.
Wall Street tumbled Wednesday with the major indexes falling more than two per cent. The Dow fell 236.77, or 2.08%, to 11,147.44. The Standard & Poor's 500 index fell 29.01, or 2.28%, to 1,244.69, while the Nasdaq composite index fell 59.55, or 2.60%, to 2,234.89.
The pullback left both the Dow and S&P 500 back in bear market territory,
with both indexes having declined more than 20% since their October highs.
| NZ Top 50 | 3,112.561 | -64.903 (-2.04%) |
| ASX 200 | 4,937.400 | -74.500 (-1.49%) |
| Dow | 11,147.44 | -236.77 (-2.08%) |
| Nasdaq | 2,234.89 | -59.55 (-2.60%) |
| FTSE 100 | 5,529.60 | +89.10 (+1.64%) |
| NZX TOP 50 |
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As at:
10/07/2008 5:34pm
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| CODE |
LAST |
+/- |
 |
| AIA | 1.91 | -0.04 |
 |
| AIR | 1.11 | +0.01 |
 |
| AMP | 8.35 | +0.02 |
|
| ANZ | 23.64 | -0.26 |
|
| APN | 3.90 | 0.00 |
 |
| APT | 1.07 | -0.02 |
|
| CAV | 2.15 | -0.05 |
|
| CEN | 7.51 | -0.11 |
|
| EBO | 4.36 | +0.16 |
|
| FBU | 6.43 | -0.30 |
|
| FPA | 1.93 | +0.03 |
|
| FPH | 2.35 | -0.05 |
|
| FRE | 2.99 | -0.03 |
|
| GFF | 1.73 | 0.00 |
|
| GMT | 1.13 | -0.03 |
|
| GPG | 1.32 | -0.03 |
|
| HLG | 2.60 | -0.09 |
|
| IFT | 1.93 | 0.00 |
|
| IMP | 1.11 | +0.01 |
|
| ING | 0.84 | -0.01 |
|
| KIP | 1.13 | -0.01 |
|
| LNN | 11.12 | +0.07 |
|
| MFT | 6.43 | -0.07 |
|
| MHI | 0.78 | -0.06 |
|
| MVN | 1.60 | 0.00 |
|
| NPX | 5.08 | -0.02 |
|
| NZO | 1.68 | -0.02 |
|
| NZR | 6.95 | -0.05 |
|
| NZS | 1.80 | +0.02 |
|
| NZX | 7.37 | -0.03 |
|
| PFI | 1.16 | -0.01 |
|
| PGW | 2.55 | -0.05 |
|
| POT | 6.35 | -0.05 |
|
| PPL | 1.44 | -0.05 |
|
| PRC | 2.02 | -0.03 |
|
| RAK | 2.85 | 0.00 |
|
| RYM | 1.61 | -0.04 |
|
| SAN | 5.19 | -0.01 |
|
| SKC | 3.01 | -0.08 |
|
| SKL | 0.82 | -0.02 |
|
| SKT | 4.15 | -0.05 |
|
| STU | 2.55 | 0.00 |
|
| TEL | 3.37 | -0.14 |
|
| THL | 1.30 | 0.00 |
|
| TLS | 5.54 | 0.00 |
|
| TPW | 7.60 | +0.10 |
|
| TWR | 1.94 | +0.01 |
|
| VCT | 1.99 | -0.01 |
|
| WBC | 24.20 | -0.87 |
|
| WHS | 3.96 | -0.07 |
|
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