MARKET CLOSE: NZ shares fall; weak Summerset sales weigh on retirement stocks

Fri, 05 Apr 2019

By Paul McBeth April 5 (BusinessDesk) - New Zealand shares fell, led lower by Summerset Group, after the retirement village operator and developer cited a slowing property market in reporting weak sales. Rivals Ryman Healthcare and Metlifecare suffered accordingly. The S&P/NZX 50 Index dropped for a third day, down 35.55 points, or 0.4 percent, at 9,857.05. Within the index, 21 stocks fell, 22 rose, and seven were unchanged. Turnover was $134 million with just five companies trading on volumes of more than a million shares. Summerset...

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