MARKET CLOSE: NZ shares drop as rising US bond yields dim dividend allure; A2, Air NZ, Pushpay fall

Wed, 10 Jan 2018

By Sophie Boot Jan. 10 (BusinessDesk) - New Zealand shares fell as rising US bond yields trimmed the attraction of the local market's relatively high dividend yields, and prompted investors to crystallise some gains. A2 Milk Co, Air New Zealand and Pushpay Holdings declined. The S&P/NZX50 Index dropped 68.33 points, or 0.8 percent, to 8,364.9. Within the index, 33 stocks fell, 9 rose and 8 were unchanged. Turnover was $140.9 million. "Investors are starting to come back into the market and they're looking to take a bit of profit off th...

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