MARKET CLOSE: NZ shares drop as Brexit fears weigh on equity markets; Coats, Orion, Metlifecare fall

Mon, 13 Jun 2016

By Jonathan Underhill June 13 (BusinessDesk) - New Zealand shares fell as the local bourse joined a global selloff in equity markets amid concern Britain could leave the European Union in a move that could lead to the further splintering of the regional bloc. Coats Group, Orion Health Group and Metlifecare led the decline. The S&P/NZX50 Index fell 47.51 points, or 0.7 percent, to 6924.27. Within the index, 37 stocks fell, 11 rose and two were unchanged. Turnover was $93 million, with the Queen's Birthday holiday in Australia keeping Austr...

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