MARKET CLOSE NZ shares fall; Kiwi Income drops after CBA sells stake at discount

Tue, 17 Dec 2013

Dec. 17 (BusinessDesk) – New Zealand shares fell after Commonwealth Bank of Australia sold its stake in Kiwi Income Property Trust at a slight discount and SkyCity Entertainment Group said a high kiwi dollar is eroding the value of Australian sales. The NZX 50 Index fell 7.592 points, or 0.2 percent, to 4728.019. Within the index, 22 stocks fell, 20 rose and eight were unchanged. Turnover was $204 million, including about $100 million of Kiwi Income. Kiwi Income fell 2.3 percent to $1.075 after Australia’s biggest bank by market value sold 8...

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