MARKET CLOSE NZ shares fall as high kiwi weighs on Kathmandu, SkyCity, Fletcher

Tue, 14 Jan 2014

Jan. 14 (BusinessDesk) – New Zealand shares fell as the kiwi dollar’s 17 percent gain against its Australian counterpart in the past year hurt companies with businesses across the Tasman, including Kathmandu, SkyCity Entertainment Group and Fletcher Building. The NZX 50 Index fell 34.242 points, or 0.7 percent, to 4865.159. Within the index, 33 stocks fell, 12 rose and five were unchanged. Turnover was $94 million. The New Zealand dollar recently traded at 92.69 Australian cents from as little as 79.29 cents a year ago, eroding the value of...

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