MARKET CLOSE: NZ shares fall as big Contact volume weighs on power companies; Genesis gains

Wed, 27 Feb 2019

By Paul McBeth Feb. 27 (BusinessDesk) - New Zealand shares fell as a large order of Contact Energy shares weighed on rivals Mercury NZ and Meridian Energy; Genesis Energy gained on a better result than expected. The S&P/NZX 50 decreased 41.66 points, or 0.4 percent, to 9,281.47. Within the index, 25 stocks fell, 19 gained, and six were unchanged. Turnover was $302.4 million, or which Contact accounted for $129.9 million. Electricity generator-retailer Contact was the most active stock, with a volume of 20.8 million, more than 20 time...

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