MARKET CLOSE NZ shares fall, Fletcher dips in absence of offshore buyers

Mon, 25 Mar 2013

March 25 (BusinessDesk) – New Zealand shares fell, paced by Fletcher Building, which drifted off in the absence of offshore buyers and concern it needs to lift earnings to justify its current share price. SkyCity Entertainment Group dropped after shedding its dividend. The NZX 50 Index fell 2.15 points, or 0.01 percent, to 4340.73. Within the index, 21 stocks rose, 18 fell and 11 were unchanged. Turnover was $76.5 million. Fletcher, the biggest company on the benchmark index, fell 1 percent to $8.58. “With less demand from offshore we’ve s...

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