MARKET CLOSE NZ stocks fall as Xero’s growth falters

Wed, 02 Apr 2014

By Suze Metherell April 2 (BusinessDesk) – New Zealand shares fell for a third day, paced by Xero as investors turned away from the high growth stock after an analyst revised their forecasted subscription rate for the company. Outside the benchmark index Synlait Milk fell on weaker global dairy prices. The NZX50 Index fell 6.211, or 0.1 percent, to 5116.308. Within the index there was an even split as 20 stocks fell, 20 rose and 10 were unchanged. Turnover was $162.2 million. Xero fell 2.9 percent to $38 and has an average recommendation o...

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