NZ shares decline as global uncertainty weighs; Sky TV hits low

The S&P/NZX 50 Index decreased 49.42 points, or 0.5 percent, to 9,390.85. Within the index, 27 stocks fell, 19 gained and four were unchanged. Turnover was $144.6 million.

The local index tracked lower with its Australian counterpart. The S&P/ASX 200 Index was down 0.5 percent in late trading, as weaker than expected US jobs data, a downgrade to European growth forecasts, and ongoing uncertainty over Brexit kept investors nervous.

"Risk sentiment is up a little bit and we're travelling alongside our cousins in Australia today," said Peter McIntyre, an investment adviser at Craigs Investment Partners. "There's currently a lack of institutional investors buying - later this month we have some index re-weightings so that should help volumes pick up a bit."

Sky TV led the market lower, falling 6 percent to a record-low $1.25. Some 3.5 million shares changed hands, almost seven times its 90-day average of 559,000. The pay-TV operator has dropped 45 percent over the past 12 months as the company has struggled to articulate a strategy to address its shrinking subscriber base.