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...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Property FREE
Money Answers: how much mortgage can I actually afford?
Frances Cook | Sat, 25 Jun 2022

This week, readers ask how they should decide as a family what they can afford in terms of buying a house – and just because you can, should you?

Health
The eyes have it
The Economist | Sat, 25 Jun 2022

Short-sightedness used to be rare. Now it's growing across the globe. Tim Cross, The Economist's technology editor, investigates its rapid rise.

On the Money
On the Money: Don Braid, Fletcher, Steve Newman and more
Victoria Young | Sat, 25 Jun 2022

OTM this week: A bit of matchy-matchy for Don Braid, the reopening of Parliament's lawns, Eroad, Fletcher and more. 

Sponsored
Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.

Sponsored
High water marks: Watercare raises the tide on sustainability

The No.1 barrier to decarbonisation for NZ organisations is accurate measurement, says Microsoft’s Accelerating the Journey to Net Zero report.