NZ shares drop 1.2% as Brexit impact reverberates across markets

Sun, 26 Jun 2016

By Sophie Boot June 27 (BusinessDesk) - New Zealand shares extended their decline as the UK's surprise vote to leave the European Union stoked fears of a flow-on impact on commodity prices, credit markets and global economic growth. The S&P/NZX 50 Index fell 80 points, or 1.2 percent, to 6,587.77 at 10:40 am, 40 minutes after opening. The local bourse shed 2.3 percent on Friday, falling throughout the day as votes were counted and reported. Stock markets on both sides of the Atlantic sank on Friday as investors were blindsided by the Brit...

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