MARKET CLOSE: NZ shares edge lower; power companies under pressure

By Paul McBeth | Fri, 15 Nov 2019


New Zealand shares edged lower as electricity companies remained under pressure as the future of the Tiwai Point smelter remains uncertain and after a weak operating update from Contact Energy.  The S&P/NZX 50 Index decreased 4.55 points, or 0.04 percent, to 10,894.70. Within the index, 21 stocks fell, 23 rose, and six were unchanged. Turnover was $131.4 million.  Blue-chip stocks and companies held for the reliable dividends were among those to decline, despite a recent slide in bond yields that would typically make equity markets more a...