MARKET CLOSE NZ shares fall as Telecom, Auckland Airport shed dividends

Wed, 13 Mar 2013

March 13 (BusinessDesk) – New Zealand shares fell led by Telecom and Auckland International Airport as a swag of companies went ex-dividend and some investors took advantage of shares at 5-year highs to lighten their holdings. The NZX 50 Index fell 37.61 points, or 0.9 percent, to 4341.14. Within the index, 30 stocks fell, 12 rose and eight were unchanged. Turnover was $165 million. Telecom dropped 6 percent, or 15 cents, to $2.295 after shedding its 8 cent interim dividend and after the phone company announced a change of strategy at its Ge...

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