As Telecom partnered the Government in high-speed broadband network initiatives, it went up a cent to 200. It will be separating its network from the rest of its business. Telecom Chief Executive Paul Reynolds said, "This would be a significant event for our company and would radically transform the telecommunications sector in New Zealand".

The rumor that Telecom is selling the consumer part of its AAPT business in Australia was confirmed last week, through this move. The Company will sell it, as its Australian unit is seen as a devastating investment.

The benchmark NZX-50 index closed up 9.549 points at 3044.172. After a rise in interim profit was reported, the property for industry fell a cent to 113. However, AMP Office Trust escalated a cent to 71 surpassing its profit report tomorrow.

Due to the unit holders' approval of plan to buy out its manager to become a Company, the National Property Trust remained unmoved at 54.

The investors were disappointed by the second GDP data, which showed that the economy has slowed down. When Chicago PMI and University of Michigan consumer confidence had hopeful readings, their mood was changed immediately.

As far as the week is concerned, the Dow went up 0.4%, the S&P 500 lost 0.1% and the Nasdaq went down 0.7%.