MARKET CLOSE: NZ shares fall as Spark drops ahead of Fed meeting

Wed, 17 Sep 2014

By Suze Metherell Sept. 17 (BusinessDesk) - New Zealand shares fell, paced by Spark New Zealand, as offshore investors sold yield stocks on the prospect the US Federal Reserve may start hiking rates sooner than anticipated, and increasing the returns on offer in the world's biggest economy. Energy stocks fell as New Zealand's general election draws closer. The NZX 50 Index fell 47.445 points, or 0.9 percent, to 5142.34. Within the index, 30 stocks fell, 12 rose and eight were unchanged. Turnover was $162 million. The Fed will update th...

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