MARKET CLOSE: NZ shares fall as investors cash in April's gains

Thu, 30 Apr 2020

New Zealand shares fell on the last day of the month as investors continued to bank profits from outperforming stocks and as large fund managers tweaked their portfolios in preparation for May. The S&P/NZX 50 Index fell 134.12 points, or 1.3 percent, to 10,532.07. Within the index, 20 stocks declined, 23 rose, and seven were unchanged. Turnover was $248.3 million. Blue chip companies including Meridian Energy, Spark New Zealand and Ryman Healthcare led the market lower as investors took the end of month as an opportunity to “lock in som...

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