MARKET CLOSE: NZ shares fall; Spark, ANZ, Westpac drop on offshore weakness

Thu, 07 May 2015

By Suze Metherell May 7 (BusinessDesk) - New Zealand shares fell, paced by Spark New Zealand as offshore weakness weighed on the local bourse. Australia and New Zealand Banking Group and Westpac Banking Corp fell as Australian lenders continued with plans to raise further capital. The NZX 50 Index fell 32.916 points, or 0.6 percent, to 5729.353. Within the index, 31 stocks fell, 10 rose and nine were unchanged. Turnover was $170 million. Overnight chair of the US Federal Reserve Janet Yellen warned valuations were too high, causing Wa...

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