MARKET CLOSE NZ shares fall as Chorus battles regulation, Meridian dips

Mon, 02 Dec 2013

Dec. 2 (BusinessDesk) – New Zealand shares fell as Chorus, fighting price controls, sank to a record low and other utilities at risk of regulation, including Meridian Energy, declined. The NZX 50 Index declined 2.621 points, or 0.1 percent, to 4792.329. Within the index, 21 stocks fell, 15 gained and 14 were unchanged. Turnover was $108 million. Chorus dropped 5.6 percent to $1.44, the lowest close since it was spun off from Telecom in late 2011. The company today filed papers in the High Court challenging the way Commerce Commission set pri...

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