MARKET CLOSE: NZ shares dip as investors eye $100m Investore offer

Wed, 29 Apr 2020

New Zealand shares fell as investors cashed in on yesterday's strong rally and sold down property stocks to take advantage of Investore Property's discounted $100 million capital raising. The S&P/NZX 50 Index declined 93.37 points, or 0.9 percent, to 10,666.19. Within the index, 23 stocks fell, 20 rose, and seven were unchanged. Turnover was $178.8 million. Shane Solly, a portfolio manager at Harbour Assets, said investors were redirecting profit from stronger performing stocks into those lagging behind. “We have a very strong recover...

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