MARKET CLOSE: NZ shares fall as Fletcher slumps to 9-yr low on profit warning

Tue, 20 Nov 2018

By Jenny Ruth Nov. 20 (BusinessDesk) - New Zealand shares fell as Fletcher Building slumped to a nine-year low after the country's biggest listed construction firm warned of weaker profit, and as growth stocks such as Pushpay Holdings followed Wall Street lower. The S&P/NZX 50 index dropped 72.63 points, or 0.8 percent, to a three-week low of 8,720.30. Within the index, 21 stocks fell, 20 gained, and nine were unchanged. Turnover was $180.8 million, of which A2 Milk accounted for $41.9 million and Fletcher made up $24.2 million. Flet...

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