MARKET CLOSE NZ shares fall on busy trading day; Telecom drops, SkyCity gains

Thu, 07 Feb 2013

Feb. 7 (BusinessDesk) – New Zealand shares fell in the busiest session so far this year, paced by Telecom amid concern the earnings season may not reveal results that warrant high stock valuations. SkyCity Entertainment rose. The NZX 50 Index fell 16.706 points, or 0.4 percent, to 4195.24. Within the index, 26 stocks fell, 12 rose and 12 were unchanged. Turnover was $202.7 million, almost twice the daily average. Telecom fell 2 percent to $2.305 with 11.4 million shares changing hands. Fletcher Building, the biggest company on the index, fel...

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