MARKET CLOSE: NZ shares join global selloff on weak oil; Kathmandu, Sky TV drop

Mon, 14 Dec 2015

By Sophie Boot Dec. 14 (BusinessDesk) - New Zealand shares joined a global selloff in equity markets on concern the plunging price of crude oil suggests weaker demand and economic growth. Kathmandu Holdings and Sky Network Television declined. The S&P/NZX 50 Index dropped 34.68 points, or 0.6 percent to 6035.26. Within the index, 35 stocks fell, 10 rose and 5 were unchanged. Turnover was $107.4 million. Global equity market weakness, spurred by oil prices dropping to a seven-year low of US$37.74 per barrel, saw Asian markets fall today...

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