MARKET CLOSE NZ shares mixed; Chorus falls on regulatory threat, Xero soars

Mon, 03 Dec 2012

Dec. 3 (BusinessDesk) - New Zealand shares fell after telecommunications network operator Chorus said a draft view of price curbs proposed by the regulator could wipe $160 million from earnings. Xero soared to a record after raising funds from US investors. The NZX 50 Index fell 0.99 points, or 0.02 percent, to 4049.09. Within the index, 20 stocks rose, 15 fell and 15 were unchanged. Turnover of $143 million was dominated by Telecom, Chorus and Fletcher Building. Chorus, which was spun off from Telecom last year, tumbled 14 percent to $2.91...

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