MARKET CLOSE: NZ shares fall, led by Rakon; Fletcher, Telecom drop

Tue, 12 Jun 2012

June 12 (BusinessDesk) - New Zealand shares fell, led by Rakon, which drops out of the benchmark index next week, along with Steel & Tube. Telecom and Fletcher Building, the biggest companies on the bourse, paced the decline. The NZX 50 Index fell 28.64 points, or 0.8 percent, to 3425.60. Within the index, 33 stocks fell, 10 rose and seven were unchanged. Turnover was a lower-than-average $68.8 million. Equity markets were generally weaker across Asia, following declines on Wall Street as investors continued to fret the bailout of Spain's ba...

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