16 Jul 2008

Dow down - NZ market too

8:42 pm on 16 July 2008

The NZX 50 index closed up 18 points to 3059 on Wednesday on turnover of $98 million.

Telecom finished up 8 cents to $3.39, Contact Energy was up 28c to $7.42 and Fletcher Building was unchanged at $6.05.

Sky City Entertainment was up 2c to $2.98, and Fisher & Paykel Appliances was unchanged at $1.95.

Vector was down 1c to $1.98 after getting government approval to sell its Wellington electricity network.

The dollar was buying 77.14 US cents, 78.91 Australian cents, 38.52 pence, 80.68 yen and 0.4851 euro. The Trade Weighted Index was 67.99.

The Australian share market shrugged off renewed financial jitters in the United States to close solidly as retailer Woolworths reported good sales and bargain hunters snapped up the big banks and other beaten-down stocks.

The S&P/ASX200 index was up 54.9 points to 4870.6, and the All Ordinaries added 37.4 points to 4947.5.

The September share price index futures contract rose 54 points to 4869 on a volume of 30,403 contracts.