MARKET CLOSE: NZ shares fall; ANZ Bank down after placement, Contact sinks, Fonterra gains

Fri, 07 Aug 2015

By Jonathan Underhill Aug. 7 (BusinessDesk) - New Zealand shares fell, with Australia & New Zealand Banking Group down on its A$3 billion equity raising, while Contact Energy declined in another day of heavy trading following Origin Energy's exit. Fonterra Shareholders' Fund gained after the dairy giant lifted its dividend forecast. The S&P/NZX 50 Index dropped 60.03 points, or 1 percent, to 5868.66. Within the index, 37 stocks fell, eight rose and five were unchanged. Turnover was $322 million, compared to a daily average in July of $142...

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