MARKET CLOSE NZ shares fall in holiday trading, head for 17 percent annual gain

Dec. 27 (BusinessDesk) – New Zealand shares fell in subdued holiday trading, putting the NZX 50 Index on route to a `17 percent annual gain. Xero, the best performer on the index, Fletcher Building and Telecom all declined, offsetting gains among mid-caps such as Hallenstein Glasson Holdings. The NZX 50 fell 0.575 points, or 0.01 percent, to 4767.360. Within the index, 13 stocks fell, 33 rose and four were unchanged. Turnover was about $30 million, less than a third of its daily average this year. The NZX 50’s advance follows gains of almost...