AGL 40.67 Decreased By ▼ -0.83 (-2%)
AIRLINK 127.50 Decreased By ▼ -0.50 (-0.39%)
BOP 6.49 Increased By ▲ 0.23 (3.67%)
CNERGY 4.16 Increased By ▲ 0.03 (0.73%)
DCL 8.49 Increased By ▲ 0.05 (0.59%)
DFML 40.99 Increased By ▲ 0.30 (0.74%)
DGKC 87.25 Decreased By ▼ -0.65 (-0.74%)
FCCL 33.75 Decreased By ▼ -0.35 (-1.03%)
FFBL 65.85 Decreased By ▼ -0.48 (-0.72%)
FFL 10.54 Decreased By ▼ -0.02 (-0.19%)
HUBC 109.30 Increased By ▲ 0.60 (0.55%)
HUMNL 14.90 Increased By ▲ 0.44 (3.04%)
KEL 4.82 Increased By ▲ 0.17 (3.66%)
KOSM 7.65 Increased By ▲ 0.32 (4.37%)
MLCF 42.29 Decreased By ▼ -0.43 (-1.01%)
NBP 61.50 Increased By ▲ 0.66 (1.08%)
OGDC 179.10 Increased By ▲ 0.13 (0.07%)
PAEL 25.89 Increased By ▲ 0.19 (0.74%)
PIBTL 6.27 Increased By ▲ 0.21 (3.47%)
PPL 146.12 Decreased By ▼ -0.03 (-0.02%)
PRL 24.55 Decreased By ▼ -0.36 (-1.45%)
PTC 16.22 Increased By ▲ 0.08 (0.5%)
SEARL 69.65 Decreased By ▼ -0.55 (-0.78%)
TELE 7.37 Increased By ▲ 0.15 (2.08%)
TOMCL 36.50 Increased By ▲ 0.30 (0.83%)
TPLP 7.89 Increased By ▲ 0.05 (0.64%)
TREET 15.61 Increased By ▲ 0.02 (0.13%)
TRG 51.95 Increased By ▲ 1.59 (3.16%)
UNITY 27.01 Increased By ▲ 0.11 (0.41%)
WTL 1.25 Increased By ▲ 0.01 (0.81%)
BR100 9,831 Increased By 36.8 (0.38%)
BR30 29,837 Increased By 190.4 (0.64%)
KSE100 92,264 Increased By 242.4 (0.26%)
KSE30 28,704 Increased By 38.9 (0.14%)

New Zealand share prices closed down 1.45 percent on Tuesday, regaining some early losses after the Australian central bank cut interest rates by one percentage point, dealers said. There was speculation the New Zealand central bank could follow with a rate cut of the same magnitude when it meets later this month.
The benchmark NZX-50 index fell 44.19 points to 3,004.19 on light turnover worth 79.9 million dollars (50.6 million US). The benchmark index, which fell as low as 2.8 percent during the day, gradually regained some ground, especially after the Australian rate cut.
"Things are very cheap and there is probably some bargain-hunting," said Macquarie Equities investment advisor Brad Gordon. "I think you've probably seen a lead especially from Australia, and Dow futures are up, so that's probably providing a level of comfort that it may be time to enter back into the market." Market leader Telecom was down a cent at 2.78 dollars.
Discount retailer The Warehouse rose four cents to 3.10 dollars, Steel & Tube added a cent to 3.72, and second-ranked Contact Energy rose five cents to 7.45 dollars. Fletcher Building fell eight cents to 6.42 dollars, off its intraday low of 6.25, following news it was buying steel products company Fielders Australia for an undisclosed price. Freightways fell 12 cents to 3.05 dollars, Mainfreight lost 11 cents to 6.05, and Auckland Airport shed 10 cents to 1.80.

Copyright Agence France-Presse, 2008

Comments

Comments are closed.