MARKET CLOSE: NZ shares drop again, Heartland Bank, Xero and Sky TV decline

Thu, 06 Oct 2016

By Sophie Boot Oct. 6 (BusinessDesk) - New Zealand shares dropped more than 1 percent for the second day running, with Heartland Bank, Xero and Sky Network Television leading the decline. The S&P/NZX50 Index fell 73.86 points, or 1.02 percent, to 7,197.3. Within the index, 35 stocks declined, eight were unchanged, and 7 rose. Turnover was moderate at $163.3 million. "Everyone's been talking about this equity-yield unwind, but I think it's a little bit more than that now - it's really a sell New Zealand story, by the feel of it," Rickey...

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