MARKET CLOSE: NZ shares drop, led by Orion Health, Summerset while Tower gains

Wed, 07 Dec 2016

By Sophie Boot Dec. 7 (BusinessDesk) - New Zealand shares declined as Orion Health Group extended its slide following its first-half results, while Tower rose. The S&P/NZX 50 Index dropped 20.59 points, or 0.3 percent, to 6,889.77. Within the index, 23 stocks fell, 21 gained and seven were unchanged. Turnover was $165.4 million. Orion Health Group led the index lower, down 5.7 percent to $1.65. The stock plummeted 19 percent when it reported its first-half results on Monday last week, and is down 34 percent since then. The health softw...

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