MARKET CLOSE NZ shares fall as investors lock in recent gains; CEN, TEL, FBU drop

Wed, 12 Dec 2012

Dec. 12 (BusinessDesk) – New Zealand shares fell, led by the biggest companies on the bourse, Contact Energy, Fletcher Building and Telecom, as investors took advantage of the NZX 50 Index’s outperformance to lock in gains. The NZX 50 fell 30.92 points, or 0.8 percent, to 3995.25. Within the index, 24 stocks fell, 15 rose and 11 were unchanged. Turnover was $159 million, with large volumes of Telecom, Fletcher and SkyCity Entertainment Group. Contact, the biggest power company on the NZX 50, fell 2.1 percent to $5.10. Fletcher, the biggest c...

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