MARKET CLOSE NZ shares fall, paced by Fletcher; Freightways gains

Mon, 12 Aug 2013

Aug. 12 (BusinessDesk) – New Zealand shares fell, pushing the NZX 50 Index to a month low, on concern Fletcher Building’s earnings will reflect tough times in Australia. Contact Energy and MightyRiverPower fell as some investors lightened their holdings ahead of the Meridian Energy float. The NZX 50 fell 11.343 points, or 0.3 percent, to 4522.299. Within the index, 20 stocks fell, 22 rose and eight were unchanged. Turnover was a subdued $85 million. Fletcher, which counts Australia as its biggest market after New Zealand, dropped 1.7 percent...

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