MARKET CLOSE: NZ shares fall after month-end positioning; Contact, Summerset decline

Thu, 01 Feb 2018

By Sophie Boot Feb. 1 (BusinessDesk) - New Zealand shares fell on the first day of the month in a muted trading session after institutional investors staked out positions yesterday. Contact Energy and Summerset Group Holdings declined. The S&P/NZX50 Index dropped 58.14 points, or 0.7 percent, to 8,383.87. Within the index, 34 stocks fell, eight rose, and eight were unchanged. Turnover was $96 million. The benchmark index gave up some of yesterday's gains when it jumped 1.7 percent on turnover of more than $200 million. That month-end...

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