MARKET CLOSE: NZ stocks drop on plane crash, Gaza invasion; Xero, A2, Pacific Edge slide

Fri, 18 Jul 2014

By Suze Metherell July 18 (BusinessDesk) - New Zealand stocks fell as in a global sell-off as news of a passenger jet plane shot down over Ukraine and Israel's invasion into Palestine's Gaza strip spooked investors, driving demand for so-called 'safe haven' assets such as gold and bonds. Xero led the market lower, paced by fellow growth stocks. The NZX 50 Index fell 3.46 points, or 0.1 percent, to 5108.926. Within the index, 24 stocks fell, 20 rose and six were unchanged. Turnover was $111.7 million. Stocks across Asia followed Wall St...

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