MARKET CLOSE NZ shares drop as investors raise cash for Auckland Airport selldown

Fri, 15 Feb 2013

Feb. 15 (BusinessDesk) – New Zealand shares dropped, led by Auckland International Airport as institutions sold shares to participate in the selldown of the nation’s busiest gateway. Hallenstein Glasson and Steel & Tube both gained after posting better earnings. The NZX 50 Index fell 42.46 points, or 1 percent, to 4196.73. Within the index, 29 stocks fell, 10 rose and 11 were unchanged. Turnover was $474 million, making it one of the busiest days this year, reflecting the NZ Superannuation Fund’s selldown of its Auckland Airport stake. Auckl...

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