MARKET CLOSE: NZ shares down, Xero and Steel & Tube drop, ERoad up 10%

Fri, 07 Jul 2017

By Sophie Boot July 7 (BusinessDesk) - New Zealand shares edged down in relatively light trading, led by Xero and as Steel & Tube Holdings dropped on a profit warning. ERoad shares gained 10 percent. The S&P/NZX50 Index dropped 7.48 points, or 0.098 percent, to 7,622.13. Within the index, 25 stocks fell, 15 rose and 10 were unchanged. Turnover was $109.1 million. Xero led the index lower, down 2.3 percent to $25.30, ahead of next week's annual meeting and at the opening of a new financial quarter. The stock has gained 48 percent this...

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