MARKET CLOSE: NZ shares fall as coronavirus ripples through markets; utilities down

Fri, 24 Jan 2020

New Zealand shares fell as the outbreak of coronavirus continued to weigh on tourism-related companies, and as a flatter interest rate outlook sapped the attraction of companies paying reliable dividends.The S&P/NZX 50 Index fell 23.3 points, or 0.2 percent, to 11,877.8. Within the index, 23 stocks fell, 17 rose and 10 were unchanged. Turnover was $113.4 million.Stocks exposed to the tourism sector remained under pressure as the risk of a potential coronavirus epidemic on international travel weighed on global investors. Air New Zealan...

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