Market Close: Contact Energy pushes market higher

Monday 21st July 2008

The sharemarket rose slightly today with the NZSE50 up 0.88% to end the day at 3,148.

Top stock Telecom slipped 0.3%, but Contact Energy surged 5.8%. Contact Energy, whose Australian parent is the subject of a hostile takeover offer, is investigating the development of the $500 million Waitahora Wind Farm Project.

The retail space was mixed, with Hallenstein Glasson increasing 1.9% and The Warehouse Group jumping 1.0%, Michael Hill losing 1.3% and Pumpkin Patch dropping 0.7%.

Steel & Tube climbed 2.61%, Pike River Coal gave away 2.4%, New Zealand Oil & Gas dipped 4.9%.

The benchmark S&P/ASX 200 index rose 171.4 points to 5011.8, as financial companies gained on easing concerns about the US financial sector.

The Dow closed up 49.91 points or 0.4% at 11,496.57 and the S&P 500 closed up 0.36 points or less than a tenth of a percent at 1,260.68, while the Nasdaq closed down 29.52 points or 1.3% at 2,282.78.

NZ Top 50	3,148.322	+27.412 (+0.88%)
ASX 200	5,011.800	+171.400 (+3.54%)
Dow	11,496.57	+49.91 (+0.44%)
Nasdaq	2,282.78	-29.52 (-1.28%)
FTSE 100	5,348.50	-27.90 (-0.52%)

NZX TOP 50
As at: 21/07/2008 5:34pm
CODE	LAST	+/-
AIA	1.79	-0.01
AIR	1.15	+0.01
AMP	8.32	-0.18
ANZ	24.05	+0.91
APN	4.17	0.00
APT	1.08	+0.01
CAV	2.11	-0.04
CEN	8.06	+0.44
EBO	4.40	0.00
FBU	6.51	+0.05
FPA	1.96	+0.01
FPH	2.29	+0.03
FRE	2.93	-0.01
GFF	1.75	+0.07
GMT	1.13	-0.02
GPG	1.34	+0.03
HLG	2.73	+0.05
IFT	1.95	+0.01
IMP	1.10	0.00
ING	0.82	-0.02
KIP	1.13	0.00
LNN	11.02	+0.36
MFT	6.42	+0.12
MHI	0.79	-0.01
MVN	1.55	-0.02
NPX	5.18	-0.04
NZO	1.54	-0.08
NZR	6.70	0.00
NZS	1.71	-0.04
NZX	6.70	0.00
PFI	1.14	-0.02
PGW	2.45	-0.01
POT	6.27	-0.13
PPL	1.41	-0.01
PRC	2.00	-0.05
RAK	2.63	+0.03
RYM	1.61	+0.03
SAN	5.01	-0.15
SKC	2.92	-0.04
SKL	0.82	0.00
SKT	4.29	+0.01
STU	2.72	+0.07
TEL	3.45	-0.01
THL	1.33	0.00
TLS	5.52	+0.09
TPW	7.54	-0.06
TWR	2.05	0.00
VCT	2.04	+0.02
WBC	26.75	+0.75
WHS	3.88	+0.04

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