MARKET CLOSE: Heavyweight stocks drag market down

Thu, 20 Aug 2020

New Zealand’s benchmark share market index fell for a second day as investors continued to sell off its two biggest stocks from record highs. Mercury NZ led the market lower. The S&P/NZX 50 Index fell 89.13 points, or 0.8 percent, to 11,662.16. Within the index, 18 stocks rose, 27 fell and five were unchanged. Turnover was $173.5 million. Fisher & Paykel Healthcare continued to drag the market lower as some large shareholders cashed in profits following it soaring to a record high after upgrading its earnings guidance on Tuesday. Its shar...

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