MARKET CLOSE: NZ shares fall as markets wait on earnings season; PGC sells down HNZ, PGW stakes

Fri, 06 Jul 2012

By Paul McBeth July 6 (BusinessDesk) - NZ shares fell, led by Cavalier Corp, as investors wait for corporate guidance later this month, when earnings season kicks off. Heartland New Zealand and PGG Wrightson led gainers after Pyne Gould Corp sold down its stakes in the two companies amid concern over the wealth manager's related party loans. The NZX 50 Index fell 5.49 points, or 0.2 percent to 3478.7, snapping four days of gains. Within the index, 16 stocks fell, 18 gained and 16 were unchanged. Turnover was $107.4 million. Carpet-maker Ca...

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