MARKET CLOSE: NZ shares fall for a second day as defensive stocks end stellar run

Thu, 04 Apr 2019

By Paul McBeth April 4 (BusinessDesk) - New Zealand shares fell for a second day as investors pared back their exposure to the equity market after the threat of lower interest rates spurred on demand for companies paying reliable dividends. Defensive stocks including Contact Energy, Mercury NZ and Infratil fell. The S&P/NZX 50 Index declined 46.66 points, or 0.5 percent, to 9,892.60. Within the index, 19 stocks fell, 21 gained, and 10 were unchanged. Turnover was $145.1 million. The benchmark index rose 12 percent in the March quarter...

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