MARKET CLOSE: NZ shares down, dragged by Fletcher, while Metlifecare, Metro Glass fall

Mon, 20 Mar 2017

By Sophie Boot March 20 (BusinessDesk) - New Zealand shares dropped, led lower by Fletcher Building's earnings downgrade, with Metlifecare and Metro Performance Glass also falling. The S&P/NZX 50 Index fell 101.1 points, or 1.4 percent, to 7,057.04. Within the index, 36 stocks dropped, eight rose and six were unchanged. Turnover was $207.6 million. Fletcher led the index lower, down 10.2 percent to $8.28. The stock was placed in a trading halt on Friday, but the shares tumbled after the company cut its full-year earnings guidance by ab...

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