MARKET CLOSE: NZ shares down, Chorus and Air NZ fall while Ryman, NZX gain

Wed, 12 Jul 2017

By Sophie Boot July 12 (BusinessDesk) - New Zealand shares dropped, led lower by Chorus and Air New Zealand, while Ryman Healthcare and NZX rose as investors search for untapped value. The S&P/NZX50 Index fell 42.55 points, or 0.6 percent, to 7,586.02. Within the index, 29 stocks fell, 13 rose and eight were unchanged. Turnover was $176 million. The local index followed the Australian index lower, with the ASX down 1.1 percent at 5pm local time, after US markets fell overnight amidst uncertainty ahead of Federal Reserve Chair Janet Ye...

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