MARKET CLOSE NZ shares fall as investors raise funds for Z; Trade Me, Fletcher drop

Mon, 19 Aug 2013

Aug. 19 (BusinessDesk) – New Zealand shares fell as some investors sold down their portfolios to raise fund for the Z Energy float and amid positioning ahead of earnings this week. Auction website Trade Me and Fletcher Building paced the decline. The NZX 50 Index fell 10.655 points, or 0.2 percent, to 4503.222. Within the index, 18 stocks fell, 17 rose and 15 were unchanged. Turnover was $158 million. Z Energy ended its first day of trading at $3.66, a 4.6 percent gain from its initial public offering price of $3.50 as owners Infratil and th...

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