MARKET CLOSE: NZ shares mixed, Spark NZ drops while Kiwi Property, ANZ, Westpac gain

Wed, 13 Jul 2016

By Sophie Boot July 13 (BusinessDesk) - New Zealand shares were mixed as investors moved towards cyclical stocks, with Spark New Zealand down while property vehicles and banks gained. The S&P/NZX 50 Index dropped 0.2 percent, or 15.2 points, to 7,064.31. Within the index, 30 stocks rose, 17 fell and four were unchanged. Turnover was $167.2 million. "Across the region, there's a continued shift from defensive to more cyclical stocks - that's being driven by bond yields rising somewhat in the US market, and Japan looking to take ever-mo...

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