MARKET CLOSE: NZ shares fall as covid fears cast pall; Air NZ drops

Thu, 25 Jun 2020

New Zealand shares joined a global sell-off as fears the covid-19 pandemic has a new lease of life weighed on the outlook for company earnings. Air New Zealand dropped as trans-Tasman rival Qantas Airways announced a major restructuring. The S&P/NZX 50 Index fell 155.05 points, or 1.2 percent, to 11,124.36. Within the index, 40 stocks declined, nine rose, and one was unchanged. Turnover was $184.7 million, of which Fisher & Paykel Healthcare accounted for $55.4 million. Stock markets across Asia followed Wall Street lower as the growing n...

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