MARKET CLOSE NZ shares slip on Fonterra dividend cut, high dollar hurts Ebos

Wed, 11 Dec 2013

Dec. 11 (BusinessDesk) – New Zealand shares fell after Fonterra Cooperative Group unexpectedly cut its forecast dividends and earnings for 2014, while the high kiwi against the Australian dollar weighed on companies such as Ebos Group with businesses across the Tasman. The NZX 50 Index fell 2.202 points, or 0.05 percent, to 4704.304. Within the index, 22 stocks fell, 23 rose and five were unchanged. Turnover was $139 million. Fonterra Shareholders’ Fund units fell 5.7 percent to $5.75, having dropped to a record low $5.48 in intraday trading...

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