MARKET CLOSE: NZ shares fall, led by SkyCity as profit growth misses expectations; Sky TV drops

Wed, 10 Aug 2016

By Jonathan Underhill Aug. 10 (BusinessDesk) - New Zealand shares fell, pushing the S&P/NZX 50 Index down from a record high, as SkyCity Entertainment Group posted full-year profit growth that missed some analyst forecasts, underlining the high expectations built into earnings season this year. Sky Network Television, NZX and Air New Zealand paced the decline. The NZX 50 fell 13.55 points, or 0.2 percent, to 7349.61, having gained more than 16 percent this year. Within the index, 24 stocks fell, 20 rose and seven were unchanged. Turnover...

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