MARKET CLOSE: NZ shares fall, led by Summerset as yield play comes off boil; Kathmandu gains

Thu, 04 May 2017

By Jonathan Underhill May 4 (BusinessDesk) - New Zealand shares fell, led by companies often held for their relatively attractive yields including Summerset Group, Ryman Healthcare and property investors. Kathmandu gained after the outdoor clothing chain reported an uplift in third-quarter sales. The S&P/NZX 50 Index fell 27.43 points, or 0.4 percent, to 7378.41. Within the index, 27 stocks fell, 15 gained and eight were unchanged. Turnover was $125 million. Summerset led the index lower, falling 2.2 percent to $4.99, rival retirement...

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