MARKET CLOSE NZX50 falls to two-month low as Chorus drops further

Fri, 06 Dec 2013

By Tina Morrison Dec. 6 (BusinessDesk) – New Zealand shares fell, dragging the benchmark NZX50 to a two-month low, as investors cut their holdings in Chorus and other stocks that may face regulatory risk. The NZX 50 dropped 6.426 points, or 0.1 percent, to 4713.523, the lowest close since Oct. 9. Within the index, 24 stocks fell, 19 rose and seven were unchanged. Turnover was $141.6 million. Chorus, the network operator spun out of Telecom in 2011, touched a new intraday low of $1.275, and closed down 4.4 percent to $1.32. The stock was the...

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