MARKET CLOSE: NZ shares fall as investors wait for leads; Xero, Kathmandu down, Tower rises

Tue, 26 Jan 2016

By Sophie Boot Jan. 26 (BusinessDesk) - New Zealand shares followed Asian markets lower as the Australia Day holiday left the local bourse short of its traditional lead. Xero and Kathmandu Holdings declined, while Tower rose. The S&P/NZX 50 Index dropped 33.08 points, or 0.5 percent, to 6142.16. Within the index, 29 stocks fell, 14 rose and seven were unchanged. Turnover was a lighter than usual $87 million. Stocks across Asia fell, following Wall Street's lead, as weak oil prices continue to erode investors' appetite for riskier asse...

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