MARKET CLOSE: NZ shares drop 1.2% in broad selloff, Pushpay and Mercury lead losses

Tue, 19 Jun 2018

By Sophie Boot June 19 (BusinessDesk) - New Zealand shares dropped in broad-based selling, led lower by Pushpay Holdings following its $100 million bookbuild, with Mercury New Zealand and Fletcher Building also weakening. The S&P/NZX50 Index fell 110.99 points, or 1.2 percent, to 8,863.24. Within the index, 35 stocks dropped, eight were unchanged and seven rose. Turnover was $241 million. Pushpay Holdings led the index lower, down 5.5 percent to $4.13 after the shares were listed from the trading halt imposed yesterday. The mobile paym...

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