MARKET CLOSE: NZ shares fall along with Asia; Xero and Summerset drop, Air NZ gains

Wed, 12 Oct 2016

By Sophie Boot Oct. 12 (BusinessDesk) - New Zealand shares dropped, following regional markets lower, with Xero and Summerset Group Holdings declining while Air New Zealand and Mainfreight gained. The S&P/NZX 50 Index fell 16.78 points, or 0.2 percent, to 7,107.45. Within the index, 24 stocks fell, 15 rose and 11 were unchanged. Turnover was $136.3 million. Asian markets followed Wall Street's drop overnight after the US earnings season began with disappointing results. In afternoon trading, Hong Kong's Hang Seng was down 1.1 percent,...

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