MARKET CLOSE: NZ shares fall; Z plunges after placement, Infratil falls

Thu, 01 Oct 2015

By Suze Metherell Oct. 1 (BusinessDesk) - New Zealand shares fell, led by a sharp drop and heavy trading in Z Energy as the market digested nearly a third of the stock changing hands. Z shareholder Infratil also fell. The S&P/NZX 50 Index dropped 7.94 points, or 0.1 percent, to 5585.420. Within the benchmark index, 22 stocks fell, 21 rose and seven were unchanged. Turnover was far higher than normal at $931 million, of which trades in Z made up $771 million. Z, the transport fuel distributor and retailer, led the benchmark index lowe...

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