MARKET CLOSE NZ shares drop as short-term Air NZ punters sell, MRP falls

Wed, 20 Nov 2013

Nov. 20 (BusinessDesk) – New Zealand shares fell as brokers hoping for a quick profit from the government selldown of Air New Zealand were forced to sell in a declining market and concerns about unfavourable policy changes weighed on power companies such as MightyRiverPower. The NZX 50 Index declined 22.144 points, or 0.5 percent, 4840.364. Within the index, 29 stocks fell, 12 rose and nine were unchanged. Turnover of $523 million reflected the government’s sale of 20 percent of Air New Zealand and subsequent trading at 5.2 percent below that...

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