MARKET CLOSE: NZ shares fall for first time since Brexit

Tue, 26 Jul 2016

By Jonathan Underhill July 26 (BusinessDesk) - New Zealand shares fell from a record high, led by Trade Me Group and Orion Health Group, as investors await earnings season for evidence that high valuations are being driven by anything more than the absence of attractive alternatives to dividend yields. The S&P/NZX 50 Index fell 6.92 points, or 0.1 percent, to 7,310.390, having gained about 16 percent this year. Within the index 27 stocks fell, 18 rose and six were unchanged. Turnover was $137 million. It's the first time the market ha...

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