MARKET CLOSE NZ shares fall to 2-month low; Telecom, Hallenstein fall

Thu, 13 Jun 2013

June 13 (BusinessDesk) – New Zealand shares fell, pushing the NZX 50 Index to a two-month low, amid concern equity markets worldwide have surged ahead of earnings potential. Hallenstein Glasson Holdings led the decline after a profit warning, while Telecom and Fletcher Building paced the slide. The NZX 50 fell 43.74 points, or 1 percent, to 4,398.39, the lowest since early April. Within the index, 33 stocks fell, 15 rose and two were unchanged. Turnover was $165 million. Stocks fell across Asia as doubts about the pace of global growth were...

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