MARKET CLOSE: NZ shares fall as Steel & Tube punished over quality issues, Z Energy gains

Thu, 02 Jun 2016

By Sophie Boot June 2 (BusinessDesk) - New Zealand shares fell as investors punished Steel & Tube Holdings for its recent issues over product quality while Z Energy advanced after the New Zealand Superannuation Fund most of its stake. The S&P/NZX 50 Index dropped 19.27 points, or 0.3 percent, to 7003.13 . Within the index, 21 stocks rose, 21 fell and eight were unchanged. Turnover was $429 million, of which $302.2 million was Z Energy shares. Z Energy rose 2.2 percent to $8.37 after the Super Fund its stake, pocketing $292 million and...

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