16 Feb 2009

New Zealand market down 70 points

8:10 pm on 16 February 2009

The NZX 50 index shed 70 points on Monday to close at 2680 on turnover of $78 million.

Fisher & Paykel Appliances shed 35c to close at 65c - its lowest closing price ever.

Freightways fell 17c to $2.95, Telecom dropped 14c to $2.49, Contact fell 11c to $6.44 and The Warehouse dropped 5c to $3.44.

AMP, which is due to announce its full-year profit this week, was one of the few listings to gain value, closing up 22c to $6.50.

The dollar was buying 51.95 US cents, 79.55 Australian cents, 36.49 pence, 47.58 yen and 0.4061 euro. The Trade Weighted Index was 52.68.

Across the Tasman, the Australian sharemarket closed down more than 1% after falls in the resources sector and losses on Wall Street on Friday.

The S&P/ASX200 was down 42.2 points, or 1.19%, to 3516.9, while the All Ordinaries dropped 35.4 points, or 1.01%, to 3461.3.

On the Sydney Futures Exchange, the March share price index contract was 25 points lower to 3492 on a volume of 17,277 contracts.