MARKET CLOSE NZ shares fall as Xero extends slide; Meridian, utilities gain

Tue, 29 Oct 2013

Oct. 29 (BusinessDesk) – New Zealand shares fell as Xero extended its slide from a record high and market heavyweights Fletcher Building and Telecom dragged the benchmark index lower. Meridian Energy gained on its debut, helping lift MightyRiverPower and Contact Energy. The NZX 50 Index fell 10.759 points, or 0.2 percent, to 4852.594. Within the index, 21 stocks fell, 21 rose and eight were unchanged. Turnover of $141 million was bolstered by trading in Sky Network Television and SkyCity Entertainment Group. Xero, the cloud-based accounting...

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