MARKET CLOSE: NZ shares fall; oil price plunge weighs on Refining NZ

Wed, 22 Apr 2020

New Zealand shares fell for a third day after a fresh drop in global oil prices heightened concerns about the outlook for the global economy. Refining NZ, which operates the Marsden Point oil refinery, led the market lower. The S&P/NZX 50 Index dropped 118.20 points, or 1.1 percent, to 10,417.67. Within the index, 37 stocks fell, eight gained, and five were unchanged. Turnover was $176.4 million. Stock markets around the world fell today as dwindling demand for oil hinted at a sharp downturn in the global economy. The International Energy...

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