MARKET CLOSE NZ shares fall as F and P Healthcare guidance dissected, Pumpkin Patch gains

Tue, 27 Aug 2013

Aug. 27 (BusinessDesk) – New Zealand shares fell, paced by Fisher & Paykel Healthcare on concern its earnings guidance is tied to the fortunes of the kiwi dollar and doesn’t show enough revenue growth relative to it the stock’s valuation. Pumpkin Patch gained on small volume after the retailer named a new chief executive. The NZX 50 Index declined 3.644 points, or 0.1 percent, to 4542.025. Within the index, 26 stocks fell, 16 rose and eight were unchanged. Turnover was $92.7 million. F&P Healthcare, which gets more than 50 percent of its sal...

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