MARKET CLOSE: NZ shares fall to month-low; Air NZ drops on Jetstar expansion

Thu, 18 Jun 2015

By Jonathan Underhill June 18 (BusinessDesk) - New Zealand shares fell, pushing the NZX 50 Index to a month-low. Air New Zealand tumbled on increased domestic rivalry from Jetstar and weak economic growth figures drove down the kiwi dollar, unsettling offshore equity investors. Meridian Energy and Chorus also declined. The NZX 50 Index fell 29.558 points, or 0.5 percent, to 5749.705, the lowest since May 15. Within the index, 27 stocks fell, 13 rose and 10 were unchanged. Turnover was $113 million. Air New Zealand fell 9.6 percent to...

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