MARKET CLOSE: NZ shares drop, Trade Me, Chorus, NZME fall

Fri, 07 Oct 2016

By Sophie Boot Oct. 7 (BusinessDesk) - New Zealand shares fell for the fourth straight session today, led lower by Trade Me Group, Chorus and NZME as News Corp sold its stake in the local news provider. The S&P/NZX50 Index dropped 29.47 points, or 0.4 percent, to 7167.82. Within the index, 29 stocks fell, 12 rose and nine were unchanged. Turnover was $140.3 million. The local index is down 2.6 percent this week and is near a three-month low, having seen heavy selling as the appetite for yield appears to be drying up as the US Federal...

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