MARKET CLOSE NZ shares fall, paced by Tower, PGG Wrightson before Fed

Thu, 13 Sep 2012

By Hannah Lynch Sept. 13 (BusinessDesk) - New Zealand shares fell, nudging the NZX 50 Index from the highest in more than four years, on bets stocks have risen enough to account for any extra stimulus the Federal Reserve should announce this week. Tower and PGG Wrightson dropped. The NZX 50 Index fell 3.67 points, or 0.1 percent, to 3786.04. Within the index, 17 stocks rose, 22 fell and 39 were unchanged. Turnover was $105 million. Investors are betting the Fed will announce a third round of asset purchases as well as extend a pledge to kee...

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