MARKET CLOSE: NZ shares drop from record, Meridian falls on dividend

Fri, 26 Sep 2014

By Suze Metherell Sept. 26 (BusinessDesk) - New Zealand shares fell, as the NZX 50 Index dropped from a record in a global sell off as investors took the opportunity to crystallise the bourse's gains. Meridian Energy snapped six days of gains as it shed rights to its dividend. Spark New Zealand and Fletcher Building paced the decline. The NZX 50 Index fell 24.373 points, or 0.5 percent, to 5253.488. Within the index, 29 stocks fell, 11 rose and 10 were unchanged. Turnover was $98.5 million. Markets across Asia declined after a drop in...

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