MARKET CLOSE: NZ shares fall into correction, Metro Glass and Sky TV drop while Xero gains

Thu, 03 Nov 2016

By Sophie Boot Nov. 3 (BusinessDesk) - New Zealand shares dropped into correction territory, led lower by Metro Performance Glass and Sky Network Television while Xero gained after delivering its first-half results. The S&P/NZX 50 Index fell 74.82 points, or 1.1 percent, to 6,778.93. Within the index, 36 stocks declined, eight were unchanged and seven rose. Turnover was $172.1 million. The index has now fallen 10.5 percent from its all-time high of 7,571.10 on Sept. 7. A fall of 10 percent or more is regarded as a correction. "We we...

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