MARKET CLOSE: NZ shares down, Kathmandu, Synlait drop while Pacific Edge jumps

Mon, 30 Jul 2018

By Sophie Boot July 30 (BusinessDesk) - New Zealand shares dropped, giving up gains from Friday, with Kathmandu Holdings and Synlait Milk leading the index lower. The S&P/NZX50 Index fell 74.7 points, or 0.8 percent, to 8,921.38. Within the index, 42 stocks fell, six rose and two were unchanged. Turnover was $82.9 million. "On Friday there was a market-on-close buy, which wasn't particularly large but because the market is relatively illiquid the movements were accentuated. A lot of the stocks that had the big jumps on Friday have giv...

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