MARKET CLOSE: NZ shares fall, led by Xero, Fletcher as investors grow more risk averse

Thu, 18 May 2017

By Rebecca Howard May 18 (BusinessDesk) - Ongoing jitters about US politics pushed New Zealand stocks lower as investors took risk off the table, with Xero, Fletcher Building and A2 Milk leading the decline on the local bourse. The S&P/NZX 50 Index fell 51 points, or 0.7 percent, to 7,371.76 Within the index, 37 stocks fell, 10 rose and three were unchanged. Turnover was $154 million. "The correction we have been waiting for has arrived overnight, with the catalyst being concern over (US President) Donald Trump's presidency," said Gre...

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