MARKET CLOSE NZ shares snap 8-day advance; Diligent, Xero fall

Tue, 16 Jul 2013

July 16 (BusinessDesk) – New Zealand shares fell, snapping an eight-day advance, as Diligent Board Member Services and Xero fell, while concerns about a weak Australian dollar weighed on Michael Hill International and Fletcher Building ahead of earnings season. The NZX 50 Index dropped 29.695 points, or 0.6 percent, to 4576.545. Within the index, 25 stocks fell, 11 rose and 14 were unchanged. Turnover was about $87 million. Diligent fell 6.3 percent to $5.67 after the company was forced to explain the 17.3 percent drop in its share price in...

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