NZX 50 ends the week down 1.5% in flurry of index reweighting

NZX 50 ends the week down 1.5% in flurry of index reweighting
Kathmandu shares ended the day unchanged after warning of weaker-than-expected sales. (Image: Nick Reed)
Paul McBeth
New Zealand shares fell in a late flurry of activity as investors digested the quarterly rebalancing of the S&P/NZX and FTSE Russell indices tracked by passive investment funds.The S&P/NZX 50 index dropped 89.42 points, or 0.8%, to 11,682.39, taking its weekly decline to 1.5%. Across the main board, 67 stocks fell, 65 rose and 49 were unchanged. Turnover was $445.7 million, more than twice the $168m average daily turnover in May. Trading was relatively muted before the late flurry, with investors waiting for the rebalanci...

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