MARKET CLOSE NZ shares fall as kiwi gains on Aussie; Fletcher, Fonterra fall

Thu, 25 Jul 2013

July 25 (BusinessDesk) – New Zealand shares fell, paced by Fletcher Building, Kathmandu and Michael Hill International as the kiwi rose to a five-year high against the Australian dollar, weighing on companies with business across the Tasman. The NZX 50 Index fell 22.408 points, or 0.5 percent, to 4576.796. Within the index, 28 stocks fell, eight rose and 14 were unchanged. Turnover was $104 million. The kiwi dollar extended its gains against its Australian counterpart to the highest since November 2008, recently trading at 87.17 Australian c...

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