MARKET CLOSE NZ stocks weak, but media shares jump and Fonterra units top $7

Thu, 13 Dec 2012

Dec 13 (BusinessDesk) - New Zealand shares fell as investors continued to take profits, foundation investors in Infratil reduced their holdings, and previously top 50 stocks prepared to leave the index. The NZX 50 fell 20.53 points, or 0.5 percent, to 3974.72. Within the index, 30 stocks fell, 11 rose and nine were unchanged. Turnover was $147.5 million. However, the newly tradable non-voting Fonterra Shareholders Fund units topped $7 for the first time, up 3.7 percent to $7.01 after listing at $5.50 on Nov. 30. After a strong run-up, in wh...

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