RESEND: MARKET CLOSE: NZ shares join global sell off; Gentrack plunges on profit warning

Fri, 01 Aug 2014

By Suze Metherell Aug. 1 (BusinessDesk) - New Zealand shares fell, led by Xero, A2 Milk Co and Pacific Edge, joining a global sell off as geopolitical risk spooked investors. Gentrack Group plunged below its offer price after saying it would miss its prospectus forecast for sales and profit barely a month after its $99 million initial public offering. The NZX 50 Index shed 58.058 points, or 1.1 percent, to a two-week low of 5109.931. Within the index, 43 stocks fell, three rose and four were unchanged. Turnover was $101 million. Stock...

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