MARKET CLOSE NZ shares fall after Wall St slide; Fletcher, Telecom drop

Tue, 05 Feb 2013

Feb. 5 (BusinessDesk) – New Zealand shares fell following a selloff on Wall Street and as investors pondered whether the looming earnings season will show results that warrant high stock prices. Telecom and Fletcher Building led the slide. The NZX 50 Index fell 34.455 points, or 0.8 percent to 4211.946. The index reached a five-year high of 4252.65 on Jan. 31. Within the index, 25 stocks fell, 13 rose and 12 were unchanged. Telecom fell 2.9 percent to $2.355 and Fletcher Building, the biggest company on the benchmark index, dropped 2.4 per...

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