MARKET CLOSE: NZ shares fall on China fears; Spark, ANZ, Westpac drop

Fri, 14 Aug 2015

By Suze Metherell Aug. 14 (BusinessDesk) - New Zealand shares fell for a seventh day as offshore concerns overshadowed the local reporting season. Spark New Zealand, Australia & New Zealand Banking Group and Westpac Banking Corp fell. The S&P/NZX 50 Index fell 41.25 points, or 0.7 percent, to a seven month low of 5696.44. Within the index, 35 stocks fell, 10 rose and five were unchanged. Turnover was a heavier than usual $214 million. Markets have been rattled after China unexpectedly allowed its currency to weaken this week, followin...

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