MARKET CLOSE: NZ shares fall as investor book profit, Air NZ, Xero, Pacific Edge tumble

Tue, 14 Oct 2014

By Suze Metherell Oct. 14 (BusinessDesk) - New Zealand shares fell led by Air New Zealand, as investors looked to crystalise post-election gains and invest in cheaper offshore markets. Contact Energy and Genesis Energy paced the decline while Xero fell to its lowest level in over a year. The NZX 50 Index fell 24.162 points, or 0.5 percent to 5145.891, paring an intraday drop of 0.9 percent to 5121.71, its lowest level since August. Within the index, 32 stocks fell, 12 rose and six were unchanged. Turnover was $128 million. Australia's...

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