MARKET CLOSE: NZ shares fall ahead of earnings season; Air NZ falls to 3-month low

Mon, 28 Jul 2014

By Suze Metherell July 28 (BusinessDesk) - New Zealand stocks fell, snapping six days of gains, as investors mulled stock valuations ahead of earnings season. National carrier Air New Zealand dropped to a three-month low, pacing the decline. The NZX 50 Index fell 7.126 points, or 0.1 percent, to 5187.142, from a six-week high close on Friday. Within the index 19 stocks fell, 21 rose and 10 were unchanged. Turnover was $82.3 million. The benchmark index reached an all-time record in the first-half of 2014 and has advanced 9.5 percent th...

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