NZ shares fall for a third day as Sky subs dwindle, Fletcher sees grim outlook

Across the main board, 81 stocks fell, 57 rose and 41 were unchanged. (Image: Getty)

Wed, 21 Aug 2024

New Zealand shares fell for a third day as earnings season laid bare the tough economic climate, with Sky Network Television shedding customers and Fletcher Building warning of a subdued outlook for the coming year. The S&P/NZX 50 Index declined 55.11 points, or 0.4%, to 12,502.97. Across the main board, 81 stocks fell, 57 rose, and 41 were unchanged. Turnover was $74.9 million, less than the $137m daily average in July, with six companies trading on volumes of more than a million shares. Company earnings brought investors back to...

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