MARKET CLOSE: NZ shares fall; retirement stocks under pressure on housing fears

Tue, 09 Apr 2019

By Paul McBeth April 9 (BusinessDesk) - New Zealand shares fell for a fifth session as retirement village operators Summerset Group and Metlifecare suffered amid fears a slowing property market will dent their fortunes. The S&P/NZX 50 Index declined 19.78 points, or 0.2 percent, to 9,787.30. Within the index, 16 stocks fell, 24 gained, and 10 were unchanged. Turnover was $143.9 million. Summerset led the market lower, down 3.8 percent at $5.55 on a volume of 1.2 million shares. Its 90-day average is 281,000. Metlifecare fell 3.2 perc...

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