MARKET CLOSE: NZ shares drop pre-reporting season, Sky TV, Meridian and Spark lead decliners

Wed, 03 Aug 2016

By Sophie Boot Aug. 3 (BusinessDesk) - New Zealand shares dropped today as investors booked profits ahead of reporting season, with the main index led lower by Sky Network Television and Meridian Energy. The S&P/NZX50 Index fell 51.8 points, or 0.7 percent, to 7,277.4. Within the index, 34 stocks fell, 12 rose and five were unchanged. Turnover was X "We've come off the boil a little bit - the weakness we're seeing offshore is flowing through to local investors and a few of them are deciding to take some profits ahead of the financial r...

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