MARKET CLOSE: NZ shares slip as earnings growth questioned; Warehouse falls

Tue, 07 Oct 2014

By Suze Metherell Oct. 7 (BusinessDesk) - New Zealand stocks fell, paced by Kathamndu Holdings and Warehouse Group, as investors mulled the prospect of future earnings growth for domestic companies. The NZX 50 Index fell 5.606 points, or 0.1 percent, to 5235.708. Within the index, 27 stocks declined, 13 rose and 10 were unchanged. Turnover was $99.1 million. Investors are looking to the prospect of future earnings to justify an 11 percent gain on the benchmark index since the start of the year, which has posted new records throughout 2...

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