MARKET CLOSE: NZ shares fall, led by Precinct, Tegel; Briscoe gains on record earnings

Tue, 14 Mar 2017

By Sophie Boot March 14 (BusinessDesk) - New Zealand shares dropped ahead of an expected interest rate hike this week by the US Federal Reserve, which may help drive up local borrowing costs. Precinct Properties and Tegel Group fell while Briscoe Group gained after reporting record annual earnings. The S&P/NZX50 Index dropped 17.7 points, or 0.2 percent, to 7,177.09. Within the index, 26 stocks dropped, 15 rose and nine were unchanged. Turnover was $148 million. Global markets are expecting the US Federal Open Market Committee to lift...

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