MARKET CLOSE: NZ shares fall as oil crash spooks investors

Tue, 21 Apr 2020

New Zealand shares joined a global selloff as a slump in US oil futures prices sapped investor sentiment that had been on the mend due to optimism over the slowing pace of covid-19 pandemic. The S&P/NZX 50 Index dropped 226.80 points, or 2.1 percent, to 109,535.87. Within the index, 37 stocks fell, nine rose, and four were unchanged. Turnover was $186 million. Equity markets around the world fell after rapid selling of US May crude oil contracts pushed spot prices into negative territory for the first time. With most of the world on loc...

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