MARKET CLOSE: NZ shares fall, led by Heartland, Chorus as investors book profits

Tue, 16 May 2017

By Rebecca Howard May 16 (BusinessDesk) - New Zealand shares fell, led by companies that have outperformed the index this year, as investors took profits from Heartland Bank and Chorus. Trading was muted ahead of corporate earnings reports later in the week. The S&P/NZX 50 index fell 22 points or 0.3 percent to 7,407.61. Within the index, 19 stocks rose, eight were unchanged and 23 fell. Turnover was $127 million. Heartland Bank led the market lower, shedding 2.8 percent to $1.74. It has gained 16 percent so far this year, outperformi...

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