MARKET CLOSE: NZ shares fall from recent highs, led lower by Fisher & Paykel on earnings downgrade

Mon, 03 Sep 2018

By Sophie Boot Sept. 3 (BusinessDesk) - New Zealand shares dropped, led lower by Fisher & Paykel Healthcare and Z Energy while A2 Milk rose amidst new Chinese e-commerce legislation. The S&P/NZX50 Index fell 55.91 points, or 0.6 percent, to 9,257.29. Within the index, 21 stocks rose, 19 fell and 10 were unchanged. Turnover was $97.2 million. "It's pretty light volume in a market that's trading at an all-time high, effectively, so it's not surprising to see a bit of profit taking come out on the back of an amazing August for most people...

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