MARKET CLOSE: NZ shares fall, led by Sky TV on earnings downgrade; Air NZ drops

Mon, 09 May 2016

By Sophie Boot May 9 (BusinessDesk) - New Zealand stocks fell as Sky Network Television extended its slide after last week's earnings downgrade and Air New Zealand fell after agreeing to settle a cartel lawsuit in the US. The S&P/NZX 50 Index dropped 13.05 points, or 0.2 percent, to 6,885.06. Within the index, 28 stocks fell, 14 rose and seven were unchanged. Turnover was $136.7 million. Sky Network Television was the worst performer, falling 7.1 percent to $4.30, a two-month low. On Friday, the shares sank 15.7 percent after the pay-T...

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