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

Fri, 10 Oct 2014

By Suze Metherell Oct. 10 (BusinessDesk) - New Zealand shares fell in a region-wide sell off as investors fretted over global economic growth. Tech-based stocks like Xero and Pacific Edge led the decline as the market took a more cautious tone. The NZX 50 Index fell 40.898 points, or 0.8 percent, to 5225.139. Within the index, 33 stocks fell, 11 rose and six were unchanged. Turnover was $103.8 million. Markets across Asia followed Wall Street lower on fears global economic growth was stalling, as poor economic data out of Germany stoke...

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