NZ shares drop on US-China trade jitters, Infratil's Vodafone purchase

Tue, 14 May 2019

By Rebecca Howard May 14 (BusinessDesk) - New Zealand shares fell on fears the US-China trade stoush will hit global growth, and as investors were wary of Infratil and Brookfield Asset Management's $3.4 billion purchase of Vodafone New Zealand. The S&P/NZX 50 Index was down 1 percent at 10,029.37 points shortly after 1pm. Within the index, three stocks rose, 39 fell and eight were unchanged. Turnover was $44.3 million. Infratil was down 4.3 percent at $4.405 after it said the deal will see both it and Brookfield pay $1.03 billion for...

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