RESEND MARKET CLOSE: NZ stocks drop to 3 1/2-month low; Summerset, SkyCity decline

Mon, 04 Aug 2014

(Adds dropped word in 3rd graph) By Suze Metherell Aug. 4 (BusinessDesk) - New Zealand stocks extended Friday's decline as global uncertainty weighed on the market, and investors wait for the local earnings season to kick off to justify high valuations. Summerset Group Holdings led the benchmark index lower, paced by SkyCity Entertainment Group. The NZX 50 Index fell 19.246 points, or 0.4 percent, to 5090.685, the lowest level since mid-April. Within the index, 24 stocks fell, 14 rose and 12 were unchanged. Turnover was $107.4 million....

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