MARKET CLOSE: NZ shares fall as pandemic fears remain heightened; Air NZ sinks

Thu, 18 Jun 2020

New Zealand shares fell as weaker-than-expected data added to resurgent fears about the covid-19 pandemic. Air New Zealand dropped on a dire earnings outlook. The S&P/NZX 50 Index dropped 109.03 points, or 1 percent, to 11,225.28. Within the index, 31 stocks fell, 15 rose, and four were unchanged. Turnover was $151.2 million. The benchmark gave back some of the previous session’s 3.5 percent surge after Stats NZ figures showed gross domestic product shrank 1.6 percent in the March quarter, more than some economists were predicting. A muc...

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