MARKET CLOSE NZ shares fall on signs of weaker Australian growth; Nuplex drops

Thu, 30 May 2013

May 30 (BusinessDesk) – New Zealand shares fell, paced by Nuplex Industries, as investors fret about the pace of Australia’s economic growth, the impact on earnings across the Tasman for kiwi companies and the reduced prospects for an interest rate cut. The NZX 50 Index fell 17.7 points, or 0.4 percent, to 4470.51. Within the index, 30 stocks fell, 14 rose and were unchanged. Turnover was $149 million. Nuplex, the manufacturer of specialty chemicals used in paints and adhesives, fell 3.5 percent to $2.79, the lowest since August last year. O...

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