MARKET CLOSE: NZ shares fall led by Air NZ, Xero while SkyTV rally continues

Wed, 04 May 2016

By Sophie Boot May 4 (BusinessDesk) - New Zealand shares fell, not maintaining yesterday's gains as Air New Zealand, Xero and Skellerup dropped though Sky Network Television gained. The S&P/NZX 50 Index dropped 18.5 points, or 0.3 percent, to 6,824.49. Within the index, 28 stocks fell, 17 rose and four were unchanged. Turnover was $177.3 million Air New Zealand fell furthest, down 5.4 percent to $2.47. It gained 4 percent yesterday after releasing a presentation for an investor briefing indicating 2017 earnings won’t match the $800 mil...

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