MARKET CLOSE: NZ shares fall as more Commercial Bay delays weigh on Fletcher, Precinct

Wed, 29 May 2019

By Paul McBeth May 29 (BusinessDesk) - New Zealand shares fell, with Fletcher Building and Precinct Properties New Zealand under pressure on news the Commercial Bay development is running behind schedule and facing more cost overruns. The S&P/NZX 50 Index decreased 26.85 points, or 0.3 percent, to 10,096.47. Within the index, 26 stocks fell, 20 rose, and four were unchanged. Turnover was $151.4 million. Fletcher fell 2.6 percent to $5.30 on a volume of 2.9 million shares, more than twice its 90-day average of 1.2 million. The country...

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