MARKET CLOSE: NZ shares fall as Spark earnings disappoint, Sky TV in merger spat

Thu, 16 Feb 2017

By Sophie Boot Feb. 16 (BusinessDesk) - New Zealand shares dropped, led by Spark New Zealand as company earnings show the telecommunications sector is experiencing stiff competition, while Sky Network Television fell as its merger continues to attract opposition. A2 Milk Co and Fletcher also declined. The S&P/NZX50 Index fell 80.05 points, or 1.1 percent, to 7,099.98. Within the index, 22 stocks dropped, 17 rose and 11 were unchanged. Turnover was $134.4 million. Spark was the worst performer, down 4 percent to $3.56. The country's big...

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