MARKET CLOSE: NZ shares follow Wall St lower on US rate outlook; Tegel, Genesis, Orion fall

Wed, 05 Oct 2016

By Sophie Boot Oct. 5 (BusinessDesk) - New Zealand shares followed Wall Street lower on renewed speculation the US Federal Reserve will raise interest rates later this year, dimming the attraction of stocks. Tegel Group Holdings, Genesis Energy and Orion Health Group fell. The S&P/NZX 50 Index fell 81.3 points, or 1.1 percent, to 7,271.16. Within the index, 37 stocks fell, eight rose and five were unchanged. Turnover was $153.4 million. Wall Street's S&P 500 index dropped 0.5 percent as the latest comments from Federal Reserve official...

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