NZ shares fall after Wall Street gains

Published: July 20, 2017 09:57:59 | Updated: October 18, 2017 05:57:31


New Zealand shares slipped on Thursday after the three major US indexes hit record highs as technology stocks surpassed the dot-com era record.

 

The benchmark S&P/NZX 50 index fell 32.64 points, or 0.4 per cent, to 5,765 at 0211 GMT.

 

The bourse was pulled into the red by material stocks, led by Fletcher Building.

 

Its shares fell as much as 8.8 per cent to its lowest in over a year after it said chief executive Mark Adamson was stepping down and it was cutting its earnings guidance for the second time in four months, according to Reuters.

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