MARKET CLOSE: NZ shares join global rout as bond markets stoke recession fears

Thu, 15 Aug 2019

By Paul McBeth Aug. 15 (BusinessDesk) - New Zealand shares joined a global slump as investors fretted over the prospect of a worldwide recession in the wake of bond market pricing. Heartland Group was among the few local stocks in positive territory after reporting solid earnings growth. The S&P/NZX 50 Index dropped 145.65 points, or 1.3 percent, to 10,704.11. Within the index, 39 stocks fell, four rose, and seven were unchanged. Turnover was $134.5 million on a volume of 27.1 million shares, slightly more than the 90-day average of 25.6...

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