UPDATE NZX shares plunge 11 percent as softer earnings surprises market

Sun, 29 Jul 2012

By Paul McBeth July 30 (BusinessDesk) - Shares in NZX plunged 11 percent after the stock exchange operator flagged a drop in first-half earnings amid tepid trading values and rising costs from its Clear Grain Exchange litigation and to cover the costs of installing a new chief executive. The stock sank to a three-month low $1.17 after reporting its earnings before interest, tax, depreciation, amortisation, and fair value movements were between $9 million and $10 million in the six months ended June 30. That's smaller than the ebitdaf of $11....

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