New Zealand shares lower; technology drops

File Photo (Reuters) File Photo (Reuters)

New Zealand shares were lower on Wednesday after energy stocks languished as a rally in oil prices lost steam after tension flared between Saudi Arabia and Iran.

The benchmark S&P/NZX 50 index fell 0.8 per cent, or 61.95 points to 7,987.72, dragged down by consumer and technology stocks.

Dairy company a2 Milk Company Ltd fell for a fourth straight session, losing as much as 10.8 per cent after global dairy prices slumped to a seven-month low.

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