MARKET CLOSE: NZ shares fall ahead of Fed, Reserve Bank announcements

Wed, 21 Sep 2016

By Sophie Boot Sept. 21 (BusinessDesk) - New Zealand shares dropped ahead of two cash rate announcements, with Orion Health Group, Air New Zealand and Scales Corp falling. The S&P/NZX 50 Index fell 27.28 points, or 0.4 percent, to 7,281.17. Within the index, 27 stocks fell, 15 rose and eight were unchanged. Turnover was $194.6 million. The US Federal Reserve is due to announce whether it will hold or change interest rates early morning local time, while New Zealand's Reserve Bank's official cash rate review will be announced in the mor...

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