MARKET CLOSE: NZ stocks fall; Westpac, Xero decline while Sky TV gains

Thu, 12 May 2016

By Sophie Boot May 12 (BusinessDesk) - New Zealand shares joined a slide in equity markets that started on Wall Street and continued into Asia. Westpac Banking Corp, Air New Zealand and Xero dropping while Sky Network Television gained. The S&P/NZX50 Index dropped 21.17 points, or 0.3 percent, to 6,923.17. Within the index, 22 stocks rose, 19 fell and nine were unchanged. Turnover was $185.6 million. "The local market took a bit of a breather today, there was offshore negativity and the New Zealand dollar movements aren't good for some...

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