KEY POINTS:
The New Zealand share market started this morning as it has every day this week - sliding downwards.
The benchmark NZX-50 index, which closed yesterday at 2616.926, was down 12.103 points, or 0.462 per cent, to 2604.823, despite something of a recovery yesterday afternoon.
The stock of the week, Fisher & Paykel Appliances, this morning lost another 2c to 60.
New Zealand Farming Systems Uruguay lost 5c to 52, AMP lost 15c, or 2.33 per cent, to $6.30, Telecom was down 4c to $2.46, Guinness Peat Group shed 2c to 73 and NZX slid 5c to $5.65.
Freightways Group was down 2c to $1.90 and Fisher & Paykel Health was also down 1c to $3.32.
Stocks on the rise were Goodman Fielder, up 3c to $1.83, Fletcher Building, up 1c to $5.26, and Rakon, up 1c to 74.
Air New Zealand rose 1c to 87 and Pike River Coal also rose 1c, to 91.
***
In the United States, Wall Street teetered near its lowest levels in three months, helped along by news that Hewlett Packard was scaling back its 2009 forecast.
The Dow Jones industrial average has been dangerously close to its late November lows all week after tumbling 300 points on Tuesday, barely budging Wednesday and sliding again on Thursday.
Traders are worried that if the Dow closes below the psychological barrier of November 20 the broader market could see stepped-up selling.
At the closing bell, the Dow Jones industrial average was down 89.28 points, or by 1.18 per cent, to 7466.35.
The Standard & Poor's 500 index fell 9.44, or 1.2 per cent, to 778.98. The technology-heavy Nasdaq composite index fell 25.15, or 1.71 per cent, to 1442.82.
Europe's stock markets were mixed on Thursday, with slight gains in London and Frankfurt despite ongoing nerves over the grim economic climate and varying results from some big companies.
London's FTSE 100 index closed up 11.54 points, or by 0.29 per cent, at 4018.37 points. The DAX ended 10.25 points, or 0.24 per cent, higher at 4215.21 points.
Japan's Nikkei average rose 0.3 per cent, a day after closing at its lowest point in nearly four months, as blue-chip exporters gained on the dollar's first move above 93 yen in six weeks.
The Nikkei gained 23.21 points to 7557.65, capping three days of losses in which it fell about 3 per cent. On Wednesday, the benchmark booked its lowest close since October 27.
The Australian share market again has received mixed leads from overseas overnight, with Wall Street indices down, precious metals lower, but copper and oil both were higher.
On Thursday the benchmark S&P/ASX200 finished up 35.7 points, or 1.05 per cent, at 3448.9, while the broader All Ordinaries added 31.1 points, or 0.92 per cent, to 3398.
- NZPA
