MARKET CLOSE: NZ shares fall, Warehouse and Mercury NZ drop while Air NZ gains

Fri, 24 Feb 2017

By Sophie Boot Feb. 24 (BusinessDesk) - New Zealand shares fell, with Warehouse Group and Mercury New Zealand ending down, while Air New Zealand rose. The S&P/NZX50 Index dropped 30.93 points, or 0.4 percent, to 7,058.59. Within the index, 23 stocks fell, 14 were unchanged and 13 rose. Turnover was $127.5 million. Warehouse Group led the index lower, down 2.6 percent to $2.59. Yesterday, the retailer said it expects to shed a net 130 jobs, or about 1.1 percent of its workforce, in an effort to save up to $20 million a year after slimmi...

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