MARKET CLOSE NZ shares fall as earnings dominate; NZX, Telecom, Port of Tauranga drop

Thu, 22 Aug 2013

Aug. 22 (BusinessDesk) – New Zealand shares fell, giving up much of the previous day’s gains, with trading dominated by earnings season. Port of Tauranga slipped after posting record profit that met estimates, stock market operator NZX dropped and Telecom declined ahead of its results tomorrow. The NZX 50 Index fell 21.646 points, or 0.5 percent, to 4529.862. Within the index, 20 stocks fell, 19 gained and 11 were unchanged. Turnover was $141 million. Port of Tauranga, the nation’s busiest export port, fell 2.4 percent to $14.35. Net profit...

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