MARKET CLOSE: NZ stocks fall as investors mull valuations; Telecom drops from month high

Tue, 15 Jul 2014

By Suze Metherell July 15 (BusinessDesk) - New Zealand shares fell as investors waited on full-year earnings to confirm high valuations of stocks. Telecom paced the decline, falling from a month high. Warehouse Group and Kathmandu Holdings fell after figures showed weaker retail sales in June. The NZX 50 Index fell 12.469 points, or 0.2 percent, to 5115.396. Within the index, 29 stocks fell, 12 rose and nine were unchanged. Turnover was $90.2 million. The benchmark index reached all-time records in the first-half of 2014 and has advan...

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