MARKET CLOSE: NZ shares fall as investors mull gains; Spark, Air NZ drop

Fri, 03 Oct 2014

By Suze Metherell Oct. 3 (BusinessDesk) - New Zealand stocks fell, Spark New Zealand and Air New Zealand declined as investors mulled whether recent gains had made the stocks fully priced. Meridian Energy and Genesis Energy gained as traders were drawn to the relatively high yield of the companies. The NZX 50 index fell 8.243 points, or 0.2 percent, to 5236.994. Within the index stocks were mixed, 22 fell, 23 rose and five were unchanged. Turnover was $108 million. Investors are looking for earnings growth to justify the benchmark inde...

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