MARKET CLOSE NZ shares fall as Fonterra units cut to sell; Wynyard, tech stocks gain

Tue, 10 Dec 2013

Dec. 10 (BusinessDesk) – New Zealand shares fell as a brokerage put a sell rating on Fonterra Shareholders’ Fund ahead of what’s expected to be a hike to its forecast milk payment tomorrow. Wynyard Group, Xero and Diligent Board Member Services rose. The NZX 50 fell 11.8 points, or 0.3 percent, to 4706.506. Within the index, 25 stocks fell, 17 gained and eight were unchanged. Turnover was $133 million. Fonterra dropped 2.1 percent to $6.10. Last month the dairy giant flagged a $157 million charge against inventory at its NZ Milk unit because...

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