New Zealand sharemarket closes lower

New Zealand shares fell, snapping an eight-day advance, as Diligent Board Member Services and Xero fell, while concerns about a weak Australian dollar weighed on Michael Hill International and Fletcher Building ahead of earnings season. The sharemarket closed 0.6 percent lower on Tuesday with the benchmark NZX-50 index fell 29.69 points to 4576.55 and a turnover of 87 million NZ dollars (67.98 million U.S. dollars). Among the leading stocks, Fletcher Building fell 13 cents at 8. 57 NZ dollars, while Telecom was down one cent at 2.355 NZ dollars. MIGHTY RIVER POWER was up two cents at 2.42 NZ dollars, SKYCITY Entertainment fell 4 cents at 4.35 NZ dollars.