New Zealand shares fell on Thursday, dragged lower by Fletcher Building hitting a six-week low, as the company's board advised a second large earnings downgrade this year and the departure of its chief executive, Mark Adamson.

The S&P/NZX50 Index dropped 60.31 points, or 0.8 per cent, to 7672.44. Within the index, 29 stocks fell, 11 rose and 10 were unchanged. Turnover was $185.3 million. Fletcher Building dropped 6.2 per cent to $7.59, though it traded as low as $7.38 shortly after the market opened to the…