MARKET CLOSE: NZ shares plunge after Brexit vote; Xero, A2, banks hit hard

Fri, 24 Jun 2016

By Sophie Boot June 24 (BusinessDesk) - New Zealand shares plunged after the UK voted to leave the European Union, taking investors by surprise with financial institutions hit hard. The S&P/NZX 50 Index dropped 153.57 points, or 2.3 percent, to 6,667.78. Within the index, 44 stocks fell, four were unchanged and two rose. Turnover was $132.6 million. "The next question will be just how far down markets will go overnight, particularly since they incorrectly rallied going into this," said Matt Goodson, managing director at Salt Funds Mana...

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