MARKET CLOSE: NZ shares slump to four-month low in global sell-off, led by Kathmandu

Fri, 08 Aug 2014

By Suze Metherell Aug. 8 (BusinessDesk) - New Zealand stocks joined a global sell-off as rising geopolitical tensions and next week's earnings season sap investors' appetite for risk. Kathmandu Holdings led the benchmark index lower, while Spark, formerly Telecom Corp, fell under its new brand. The NZX 50 Index fell 42.307 points, or 0.8 percent, to 5055.202, the lowest since April 8. Within the index, 30 stocks fell, 13 rose and seven were unchanged. Turnover was $101.9 million. Stocks across Asia plunged as US President Barack Obama...

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