MARKET CLOSE: NZ shares fall, Sky TV drops after profit warning, A2 continues decline

Wed, 14 Dec 2016

By Sophie Boot Dec. 14 (BusinessDesk) - New Zealand shares dropped after Sky Network Television gave a profit warning, while A2 Milk Co extended its decline on uncertainty about the Chinese infant formula market. The S&P/NZX 50 Index fell 52.34 points, or 0.8 percent, to 6,797.87. Within the index, 28 stocks fell, 20 rose and three were unchanged. Turnover was $163 million. Sky TV was the worst performer, down 10.8 percent to $4.28, a one-month low. It cut its 2017 earnings guidance citing rising content costs, and falling revenue and...

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