MARKET CLOSE: NZ shares drop, Sky TV and Steel & Tube fall while Hellaby gains

Mon, 05 Dec 2016

By Sophie Boot Dec. 5 (BusinessDesk) - New Zealand shares declined, dragged lower by Ryman Healthcare, Sky TV and Steel & Tube Holdings, while Hellaby Holdings gained after a lift in its takeover offer from Bapcor. The S&P/NZX50 Index dropped 50.14 points, or 0.7 percent, to 6,854.71. Within the index, 30 stocks fell, 16 rose and five were unchanged. Turnover was $122.9 million. Prime Minister John Key today announced he intends to step down in a week, surprising pundits. The announcement hasn't had much impact on the local index, said...

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