MARKET CLOSE: NZ stocks fall as Vector gas sale price disappoints, property companies drop as bond yields rise

Mon, 09 Nov 2015

By Sophie Boot Nov. 9 (BusinessDesk) - New Zealand shares extended their decline from a record high after Vector sold a gas pipeline business at a price that disappointed some investors, while Kiwi Property Group lead a drop in property companies, typically held for their relatively attractive yield, after bond yields jumped. The S&P/NZX50 fell 21.85 points or 0.36 percent down to 6047.89 . Within the index, 18 stocks rose, 24 stocks fell, and 8 were unchanged. Turnover was $93 million. Vector fell 2.4 percent to $3.25.The Auckland-bas...

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