MARKET CLOSE: NZ shares drop back as SkyCity, Air NZ weaken; NZX rises on Nasdaq MOU

MARKET CLOSE: NZ shares drop back as SkyCity, Air NZ weaken; NZX rises on Nasdaq MOU
Sophie Boot
By Sophie Boot Sept. 12 (BusinessDesk) - New Zealand shares dropped back, led lower by Mercury NZ and SkyCity Entertainment Group, as yesterday's gains weren't repeated. The S&P/NZX50 Index fell 30 points, or 0.3 percent, to 9,195.57. Within the index, 31 stocks fell, 15 rose and four were unchanged. Turnover was $123.8 million. The local market didn't repeat yesterday's 2 percent gain, when 38 stocks rose and turnover was $203 million. David Price, broker at Forsyth Barr, said yesterday was a "day in isolation." "Volumes were qu...