MARKET CLOSE: NZ shares fall in global sell-off; Xero, Westpac, Meridian decline

Mon, 15 Dec 2014

By Suze Metherell Dec. 15 (BusinessDesk) - New Zealand shares fell in a global sell-off, paced by Xero, Westpac Banking Corp and Meridian Energy as falling oil and dairy prices and a hostage situation in Sydney weighed on investors. The NZX 50 Index fell 15.882 points, or 0.3 percent, to 5499.072. Within the index, 25 stocks fell, 18 rose and seven were unchanged. Turnover was $110 million. Last week, Wall Street recorded its worst weekly drop in three years amid heightened concern that the plunge in the price of oil might trigger an o...

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