MARKET CLOSE: NZ shares fall; Oceania reports weak earnings

Thu, 23 Jul 2020

New Zealand shares fell, led lower by Oceania Healthcare after it reported annual earnings significantly weaker due to covid-19. The S&P/NZX 50 Index declined 29.56 points, or 0.3 percent, to 11,693.41. Within the index, 24 stocks rose, 19 fell, and seven were unchanged. Turnover was $136.4 million. Oceania reported a net loss of $13.6 million in the year ended May after writing down the value of its property portfolio by $22.5 million. It reported a $45.4 million profit in the prior year. Its share price fell 3.9 percent to 99 cents b...

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