MARKET CLOSE: NZ shares fall as SkyCity resumes trading after bookbuild; Xero gains

Mon, 16 May 2016

By Jonathan Underhill May 16 (BusinessDesk) - New Zealand shares fell, led by SkyCity Entertainment Group, which resumed trading after completing the institutional component of its capital raising. Xero extended its gains after reducing its cash burn and saying it won't need more capital to get to breakeven. The S&P/NZX50 Index fell 2.45 points, or 0.04 percent, to 6914.12. Within the index, 24 stocks gained, 15 fell and 11 were unchanged. Turnover was $113.5 million. SkyCity fell 3.1 percent to $4.80 after coming off a trading halt. T...

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