MARKET CLOSE NZ shares fall; Westpac, Fletcher slip, Moa gains on debut

Tue, 13 Nov 2012

Nov. 13 (BusinessDesk) - New Zealand shares fell, joining a global selloff on concerns about the US fiscal cliff and Europe’s stuttering economy. Fletcher Building and Telecom paced the decline; Westpac Banking Corp shed its dividend while boutique brewer Moa advanced in its listing debut. The NZX 50 Index fell 13.441 points, or 0.3 percent, to 3970.55. Within the index, 23 stocks fell, 15 rose and 12 were unchanged. Turnover was $85.8 million. Share markets were weaker across the region, with Japan’s Nikkei 225 Index down 0.3 percent in ear...

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