MARKET CLOSE: NZ shares fall, breaking 12-session streak; Xero, Genesis drop, SkyCity and Sky TV gain

Wed, 16 Mar 2016

By Sophie Boot March 16 (BusinessDesk) - New Zealand shares fell, snapping a 12-session streak of rises as Xero dropped while SkyCity Entertainment Group and Sky Network Television gained. The S&P/NZX 50 Index fell 14.9 points, or 0.2 percent, to 6,562.96. Within the index, 22 stocks declined, 18 rose and 10 were unchanged. Turnover was $209 million. "It's just a random walk," said Matthew Goodson, managing director at Salt Funds Management. "At the moment, the quest for yield goes on. Even though on valuation multiples the New Zealand...

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