MARKET CLOSE: NZ shares fall, Sky TV resumes slide while Xero jumps

Fri, 13 May 2016

By Sophie Boot May 13 (BusinessDesk) - New Zealand shares fell on renewed concerns that Sky Network Television will struggle to maintain subscriber numbers in the face of new internet-based rivals, while Xero gained after the cloud-based accounting software firm said its cash burn is slowing and it expects to get to breakeven without seeking more capital. The S&P/NZX50 Index dipped 6.6 points, or 0.1 percent, to 6,916.57. Within the index, 29 stocks dropped, 14 rose and seven were unchanged. Turnover was $146.8 million. Sky TV resumed...

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