MARKET CLOSE: NZ shares decline, tracking overseas stocks lower, amid geopolitical concerns

Fri, 13 Jun 2014

By Tina Morrison Jun. 13 (BusinessDesk) - New Zealand shares fell, tracking overseas stocks down, as investors took profits ahead of the upcoming earnings season and amid concern about flaring geopolitical tensions that saw oil surge following escalating violence in Iraq. The NZX 50 Index slipped 24.602, or 0.5 percent, to 5170.508. Within the index, 29 stocks fell, 10 rose, and 11 were unchanged. Turnover was $125 million. A surge in violence across Iraq raised the prospect of a return to sectarian civil war in OPEC's second-biggest o...

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