MARKET CLOSE: NZ shares snap three-day rally as investors weigh up lockdown

Fri, 27 Mar 2020

New Zealand shares snapped a three-day rally in volatile trading, as investors continue to assess the fallout from the level 4 shutdown and as higher bond yields reduce the attraction of companies that typically pay a reliable dividend in ordinary times. The S&P/NZX50 fell 75.74 points, or 0.8 percent, to 9,556.73. Within the index, 20 stocks fell, 20 rose and four were unchanged. Turnover was $252.4 million. While the local market opened stronger following a lively lead from Wall Street overnight, the trend turned downward throughout th...

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