MARKET CLOSE: NZ shares edge lower, led by Freightways on outlook; Steel & Tube gains

Mon, 22 Feb 2016

By Sophie Boot Feb. 22 (BusinessDesk) - New Zealand shares slipped, led by Freightways on its grimmer outlook for the second half of the year, while Steel & Tube Holdings continued to rise. The S&P/NZX 50 Index decreased 2.2 points, or 0.04 percent, to 6139.47. Within the index, 26 stocks fell, 14 rose and 10 were unchanged. Turnover was $143.5 million. Freightways led the index lower, dropping 2.7 percent to $6.05. The courier and logistics business posted a 5.5 percent gain in first-half profit on strong earnings from its information...

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