By Edwin MitsonNew Zealand shares dropped for the fifth consecutive session to a near-three-month low, led down by Auckland International Airport, Ryman Healthcare and Chorus. Within the index, 34 stocks dropped, 12 rose and four were unchanged. Auckland International Airport was the worst performer on the index, down 3.3 per cent to $6.72, and has declined 21 per cent this year. "There's broad-based selling in heavyweight New Zealand stocks," Metcalfe said. "The rise in the oil price has weighed on airlines, and I suppose you could read it's going to weigh on Auckland Airport as well with cost constraints coming through, but I don't think there's going to be a massive continued run in the oil price, I think the weakness in both Air New Zealand and Auckland Airport will be limited - you will see some people seizing this opportunity."

Source: New Zealand Herald October 10, 2016 07:30 UTC