MARKET CLOSE: NZ shares drop from recent highs; Ryman, Fletcher fall

Mon, 10 Sep 2018

By Sophie Boot Sept. 10 (BusinessDesk) - New Zealand shares weakened from recent highs, led lower by Ryman Healthcare and Fletcher Building. The S&P/NZX50 Index dropped 46.76 points, or 0.5 percent, to 9,048.63. Within the index, 23 stocks fell, 15 rose and 12 were unchanged. Turnover was $94.4 million. "The market had a good run up through to August, and you tend to get some consolidation after that," said Grant Davies, investment advisor at Hamilton Hindin Greene. The local index soared 4.4 percent last month, its best performance in...

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