MARKET CLOSE: NZ shares fall as investors look for bargains

Dan Brunskill
Tue, 11 Aug 2020

New Zealand shares fell as investors rotated out of the best-performing stocks such as Fisher & Paykel Healthcare, and into some of the cheaper, beat-up firms including Air New Zealand, on the prospect of their recovery. The S&P/NZX 50 Index declined 38.12 points, or 0.3 percent, to 11,645.32. Within the index, 27 stocks rose, 19 fell, and four were unchanged. Turnover was $206 million. Companies that have been successful during the pandemic were the biggest decliners on the index today, while struggling travel and retail stocks received...

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