MARKET CLOSE: NZ shares fall led by Steel & Tube, NZOG as oil weakens; Spark, MRP gain

Tue, 06 Jan 2015

By Suze Metherell Jan. 6 (BusinessDesk) - New Zealand shares fell, led by Steel & Tube Holdings, New Zealand Oil and Gas and Fletcher Building, joining a global sell off in equities in the face of weaker crude oil and euro zone economic weakness. Defensive, income-paying stocks, including MightyRiverPower, Precinct Properties New Zealand and Spark New Zealand gained. The NZX 50 Index fell 41.223 points, or 0.7 percent, to 5561.378. Within the index, 32 stocks fell, seven rose and 11 were unchanged. Turnover was $85 million. Overnigh...

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