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Published: Monday 26 August, 2013

designer factory outlet online designer factory outlet online ?Sharp ea designer factory outlet online rly fall on US equities

The New Zealand sharemarket opened sharply lower after stocks plunged in the United States as concerns were reignited about the broader US financial sector.

Around 10.10am the benchmark NZSX50 market was down 29.81 points, or 0.9 per cent, to 3346.57, having risen slightly yesterday.

Among other top companies Contact Energy was down 30c to 870, reversing its 29c gain yesterday which happened on speculation that majority owner Origin Energy may increase its stake with the planned takeover by BG Group of Origin having become unlikely to proceed.

After the New Zealand market closed BG did admit defeat in its hostile bid.

Other stocks falling early included Fletcher Building, down 18c to 757, Cavalier Corporation slipped 4c to 291, Fisher Paykel Appliances was down 3c to 183, and Hallenstein Glasson was down 3c to 297.

NZ Oil Gas was down 5c to 150 as oil prices hit a fivemonth low, Nuplex lost 3c to 620, Rakon was down 3c to 280 and Ryman Healthcare was down 3c to 175.

Ene designer factory outlet online rgy shares tumbled as oil prices fell more than US$3 $4.55 a barrel, hit by news that Hurricane Ike would veer away from Gulf of Mexico production facilities.

The Dow Jones industrial average was down 2.42 per cent at 11,231.63. The Standard Poors 500 Index was down 3.4 per cent at 1224.64. The Nasdaq Composite Index was down 2.64 per cent at 2209.81. designer factory outlet online