MARKET CLOSE NZ Stocks drop in global crimp, Xero, Trade Me fall

Tue, 04 Feb 2014

Feb. 4 (BusinessDesk) – New Zealand stocks fell, tracking a global decline, as investors’ fears of faltering economic recovery were exacerbated by poor manufacturing data in the US, and China. Xero led the market lower, with Trade Me Group and Port of Tauranga pacing the decline. The NZX 50 Index dropped 46.883 points or about 1 percent to 4802.619, its lowest in three weeks. Within the Index 31 stocks fell, four rose and 15 were unchanged. Total turnover for the day was $123.8 million. Manufacturing data out of the world’s biggest economy,...

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