MARKET CLOSE: NZ shares drop on Z downgrade, Ryman and NZX fall

MARKET CLOSE: NZ shares drop on Z downgrade, Ryman and NZX fall
Sophie Boot
By Sophie Boot July 18 (BusinessDesk) - New Zealand shares fell, led by Z Energy following an earnings downgrade, with Ryman Healthcare and NZX also declining. The S&P/NZX50 Index dropped 32.79 points, or 0.4 percent, to 8,964.1. Within the index, 29 stocks fell, 11 rose and 10 were unchanged. Turnover was $123.3 million. "The index has had a bit of a soft week, and there's not any one stock that's doing enough to explain today's weakness," said Grant Davies, investment advisor at Hamilton Hindin Greene. The local benchmark index under...