MARKET CLOSE: NZ shares fall; Fletcher drops on concrete concerns; MRP, Spark decline

Wed, 06 May 2015

By Suze Metherell May 6 (BusinessDesk) - New Zealand shares fell, paced by Fletcher Building after a subsidiary used faulty materials in a major construction project. Spark New Zealand, Xero and MightyRiverPower fell in a broad-based sell-off as offshore weakness weighed on the local exchange. The NZX 50 Index fell 22.522 points, or 0.4 percent, to 5765.269. Within the index, 21 stocks fell, 14 rose and 15 were unchanged. Turnover was $115 million. Fletcher dropped 1 percent to $8.30. The building and construction supplies firm revea...

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