MARKET CLOSE NZ shares fall; Fletcher, Xero, Auckland Airport, Telecom drop

Tue, 11 Mar 2014

By Suze Metherell March 11 (BusinessDesk) – New Zealand stocks fell for a second day as some investors took advantage of a market that reached a record last week to reduce their holdings. New Zealand’s four largest listed companies, Fletcher Building, Xero, Auckland International Airport and Telecom, paced the decline. The NZX 50 Index fell 15.898 points, or 0.3 percent, to 5101.937. Within the index, 25 stocks fell, 18 rose and seven were unchanged. Turnover was $ 145 million. The benchmark index has gained 6.9 percent this year, and was...

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