MARKET CLOSE: NZ stocks fall, paced by Xero, Warehouse

Mon, 23 Jun 2014

By Suze Metherell June 23 (BusinessDesk) - New Zealand stocks fell as investors sold shares to raise cash ahead of several new listings and insitutions squared their books ahead of the financial year's end on June 30. Xero fell to an eight-month low as investors sought to secure tax losses ahead of the end of the Australian financial year. Warehouse Group extended its losses after an earnings downgrade last week. The NZX 50 Index fell 18.868 points, or 0.4 percent, to a month low of 5126.164. Within the index, 14 shares fell, 22 rose and...

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