MARKET CLOSE: NZ shares fall, investor appetite drops ahead of Reserve Bank announcement

Tue, 26 Apr 2016

By Sophie Boot April 26 (BusinessDesk) - New Zealand shares fell as demand dried up ahead of a Reserve Bank update, with Meridian Energy and Vector hit hardest. The S&P/NZX 50 Index dropped 70.4 points, or 1 percent, to 6,795.71. Within the index, 35 stocks fell, eight were unchanged and six rose. Turnover was $181.9 million. "Offshore markets have influenced investors locally today, and we appear to have a bit of profit taking on stocks which have done pretty well," said Grant Williamson, director at Hamilton Hindin Greene. "There was...

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