MARKET CLOSE: NZ shares fall as smelter rumour put to bed, power companies drop

Fri, 07 Aug 2020

New Zealand shares fell after Rio Tinto quashed rumours production was ramping up at the Tiwai Point aluminium smelter; Fisher & Paykel Healthcare fell after rival ResMed reported disappointing earnings. The S&P/NZX 50 Index fell 117.91 points, or 1 percent to 11,646.68. Within the index, 25 stocks fell, 16 rose and nine were unchanged. Turnover was $127.8 million. The energy sector led the market lower after multinational mining company Rio Tinto shot down rumours it was planning to restart an aluminium production line shut earlier t...

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