MARKET CLOSE: NZ shares fall as Iranian retaliation rocks markets; Burger Fuel quits Iraq

By Paul McBeth | Wed, 08 Jan 2020


New Zealand shares joined a global sell-off as Iran’s retaliatory attack on US military bases dented investor confidence. The S&P/NZX 50 Index dropped 72.88 points, or 0.6 percent, to 11,556.98. Within the index, 29 stocks fell, 15 rose, and six were unchanged. Turnover was $89.1 million. Stocks across Asia were weaker as reports of the Iranian missile attack emerged. However, they recovered some of those losses when Iran’s foreign minister, Mohammad Javad Zarif, said the attack was a proportionate response to the fatal US drone strike on...