MARKET CLOSE NZ shares fall as Telecom cuts guidance, Ryman gains of profit

Thu, 16 May 2013

May 16 (BusinessDesk) – New Zealand shares fell after Telecom said competition in fixed-line sales meant full-year earnings would be at the bottom end of guidance, while Ryman Healthcare rose after chalking up another year of plus-15 percent earnings growth. The NZX 50 Index fell 10.29 points, or 0.2 percent, to 4636.02. Within the index, 26 stocks fell, 18 rose and six were unchanged. Turnover of $195 million was boosted by 1.7 percent of Trade Me changing hands. Telecom dropped 2.7 percent to $2.55. At an investor briefing today, the compan...

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