MARKET CLOSE NZ stocks fall on ‘tech and growth sell off’; Xero, A2, Pacific Edge decline

Mon, 07 Apr 2014

By Suze Metherell April 7 (BusinessDesk) – New Zealand shares fell as investors sold tech and high-growth companies, taking advantage of recent gains to raise cash for the government’s Genesis Energy sale. Xero slipped to a three month low. A2 Milk Corp and Pacific Edge paced the decline. The NZX 50 Index fell 48.061 points, or 0.9 percent, to 5075.840. Within the index, 29 stocks fell, 12 rose and nine were unchanged. Turnover was relatively low at $96.9 million. The benchmark index has gained 8.2 percent since the start of the year, and i...

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