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Market Close: Shares rise for 2nd day; Wrightson gains

Monday 29th December 2008

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New Zealand shares rose in light trading, pushing the NZX 50 Index up for a second day, with PGG Wrightson surging 12% and rest-home operator Metlifecare extending its slide.

The NZX 50 rose 9.583, or 0.4%, to 2677.64. Within the index, 21 stocks gained, 11 fell and 18 were unchanged. About 11.6 million shares changed hands. Wrightson, which has tumbled 32% in the past month, gained 13 cents to NZ$1.19.

Metlifecare fell 9% to NZ$2.54, extending its slide since announcing last week that was suspending its dividend and seeking to raise as much as NZ$40 million by selling new shares to shore up its capital. It was at NZ$3 before the announcement.

Fletcher Building led the index lower, sliding 3.5% to NZ$5.60, its third daily decline after figures showed the biggest drop in U.S. home sales for 21 years.

Air New Zealand fell 2.3% to 86 cents and Sky Network Television fell 1.3% to NZ$3.85.

Among gainers, carpet maker Cavalier Corp. rose 4.9% to NZ$1.73 and children’s clothing chain Pumpkin Patch rose 4% to NZ$1.04.

In Sydney, the S&P/ASX 200 Index rose 1.1% to 3621.1. Woodside Petroleum rose 5.7% after the price of oil advanced. Babcock & Brown Infrastructure fell 4.5% to 8.5 cents.

(Businesswire.co.nz)

NZX Top 50
Last updated: 29/12/2008 5:05pm

AIA1.600.00
AIR0.86-0.02
AMP6.25-0.15
ANZ17.70-0.20
APN2.900.00
APT1.00+0.01
CAV1.73+0.08
CEN7.14+0.12
EBO4.150.00
FBU5.60-0.20
FPA1.25+0.02
FPH3.20+0.10
FRE2.99+0.09
GFF1.480.00
GMT0.97+0.01
GPG0.95+0.01
HLG2.20+0.01
IFT1.67-0.03
IMP1.080.00
ING0.620.00
KIP1.01+0.01
LNN9.50-0.05
MFT4.50-0.05
MHI0.560.00
MVN1.280.00
NPX2.92-0.02
NZO1.220.00
NZR5.800.00
NZS0.590.00
NZX5.420.00
PFI1.070.00
PGW1.19+0.13
POT6.30-0.15
PPL1.04+0.04
PRC0.900.00
RAK1.31+0.01
RYM1.47+0.02
SAN5.000.00
SKC3.05+0.03
SKL0.710.00
SKT3.85-0.05
STU3.100.00
TEL2.28+0.02
THL0.70+0.01
TLS4.44+0.08
TPW7.06+0.06
TWR1.450.00
VCT2.10-0.01
WBC19.80+0.47
WHS3.49+0.02


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