MARKET CLOSE: NZ shares fall as property market weighs on Summerset, Metlifecare

Mon, 08 Apr 2019

By Paul McBeth April 8 (BusinessDesk) - New Zealand shares fell for a fourth day as the threat of a slowing property market was seen weighing on retirement sector stocks such as Summerset Group and Metlifecare. The S&P/NZX 50 Index declined 49.97 points, or 0.5 percent, to 9,807.08. Within the index, 29 stocks fell, 15 rose, and six were unchanged. Turnover was $118.67 million. Summerset led the market lower for a second day, down 4.9 percent at $5.77 on a bigger volume than usual of 790,000 shares. The retirement village operator an...

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