MARKET CLOSE: NZ shares mixed; Z drops on downgrade as Air NZ bounces back

Tue, 23 Jan 2018

By Sophie Boot Jan. 23 (BusinessDesk) - New Zealand shares were mixed, with Z Energy dropping on an earnings downgrade while Air New Zealand bounced back from recent selling. The S&P/NZX50 Index fell 27.73 points, or 0.3 percent, to 8,307.63. Within the index, 22 stocks rose, 18 fell and 10 were unchanged. Turnover was $99 million. Z Energy fell 2.3 percent to $7.52. It cut annual guidance by about $20 million following a weaker-than-expected performance in the December quarter, due to a shutdown of the New Zealand Refining fuel pipeli...

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