MARKET CLOSE: NZ shares fall as Fletcher sinks deeper; Trade Me soars on takeover bid

Wed, 21 Nov 2018

By Paul McBeth Nov. 21 (BusinessDesk) - New Zealand shares fell as Fletcher Building dropped to a 14-year low, adding to yesterday's rout after its profit warning. Trade Me soared to a record on a potential takeover. The S&P/NZX 50 index dropped 47.9 points, or 0.5 percent, to 8,672.40. Within the index, 29 stocks fell, 14 gained, and seven were unchanged. Turnover was $195.7 million. Fletcher fell 4.7 percent to $4.70, the lowest level since mid-2004. That added to yesterday's 11 percent slump when Fletcher warned first-half earning...

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