MARKET CLOSE NZ shares fall ahead of MRP sale close; Skellerup drops on guidance

Thu, 02 May 2013

May 2 (BusinessDesk) – New Zealand shares fell ahead of the close of the MightyRiverPower offer as investors free up funds to participate in the government sale. Skellerup Holdings dropped after cutting its annual profit guidance a second time. The NZX 50 Index dropped 28.55 points, or 0.6 percent, to 4574.46. Within the index, 31 stocks fell, 12 rose and seven were unchanged. Turnover was $149.5 million. Stocks were generally weaker across Asia, with the Nikkei 225 Index down 1 percent, after a second reading on China’s HSBC Flash PMI came...

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