MARKET CLOSE: NZ shares fall in global slump; Xero, Pacific Edge drop

Mon, 13 Oct 2014

By Suze Metherell Oct. 13 (BusinessDesk) - New Zealand shares followed Wall Street lower, led by Xero and other growth stocks, as investors worried global economic growth is stalling. Kathmandu Holdings and Air New Zealand paced the decline. The NZX 50 Index fell 55.086 points, or 1.1 percent, to 5170.053, its lowest level since August. Within the index, 42 stocks fell, four rose and four were unchanged. Turnover was a lighter-than-usual $86.1 million, with markets in Japan closed for a public holiday. The benchmark index followed Wa...

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