MARKET CLOSE: NZ shares fall in global sell-off; Xero, Fletcher drop

Thu, 16 Oct 2014

By Suze Metherell Oct. 16 (BusinessDesk) - New Zealand shares fell, led by Xero, joining a worldwide sell-off as investors fretted over stalling global growth. Fletcher Building, Kathmandu Holdings declined as the local currency gained against its Australian counterpart. The NZX 50 Index fell 30.852 points, or 0.6 percent, to 5132.02. Within the index, 34 shares fell, eight rose and eight were unchanged. Turnover was $145 million. Overnight, Wall Street dropped as reports showed declines in US retail sales and producer prices fuelled c...

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