MARKET CLOSE NZ shares fall; Pumpkin Patch, Fonterra, Mainfreight drop

Wed, 31 Jul 2013

July 31 (BusinessDesk) – New Zealand shares fell after Pumpkin Patch’s chief executive departed, Fonterra Shareholders’ Fund investors fretted returns will be hurt by farmer payments and Mainfreight said earnings are lagging last year’s on tough times in Australia. The NZX 50 Index fell 12.6 points, or 0.3 percent, to 4537.985. Within the index, 30 stocks fell, 15 gained and five were unchanged. Turnover was $115 million. Pumpkin Patch, the children’s clothing chain, dropped 3.3 percent to 87 cents after the departure yesterday of CEO Neil C...

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