New Zealand shares joined a global retreat as weaker oil prices weighed on energy stocks and a downgrade of Australia's major banks saw dual-listed companies including Fletcher Building fall, while Air New Zealand declined in heavy trading. Within the index, 25 stocks fell, 11 rose, and 14 were unchanged. Turnover was $180 million, of which $60m was in Air New Zealand sharesStocks across Asia declined, following Wall Street's lead, after oil prices fell to a seven-month low as efforts to curb global production struggle to gain traction. Transport fuels company Z Energy fell 1.3 per cent to $7.55 and energy explorer New Zealand Oil & Gas dropped 1.4 per cent to 64 cents. Milk marketer a2 Milk Co fell 0.7 per cent to $4.05, while Synlait Milk dropped 2 per cent to $4.02.

Source: New Zealand Herald June 21, 2017 05:48 UTC