MARKET CLOSE: NZ shares flatline in light trading; Fonterra sinks after dropping dividend

Mon, 12 Aug 2019

By Paul McBeth Aug. 12 (BusinessDesk) - New Zealand shares barely budged in relatively light trading as Contact Energy met earnings expectations in kicking off the reporting season. Fonterra Shareholders' Fund units sank as the dairy giant dashed hopes for a dividend this year. The S&P/NZX 50 Index decreased 0.47 of a point, or 0.004 percent, to 10,872.74. Within the index, 25 stocks rose, 18 fell and seven were unchanged. Turnover was $92.2 million, with five companies trading on volumes of more than a million shares. Contact decrea...

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