MARKET CLOSE NZ shares fall as Labour-Greens power plan rattles Contact, TPW

Thu, 18 Apr 2013

April 18 (BusinessDesk) – New Zealand shares fell as investors assessed the potential threat to power company earnings from a Labour Party-Green Party plan to overhaul the electricity sector if elected. Contact Energy, TrustPower, Infratil and Vector all declined. The NZX 50 Index fell 36.16 points, or 0.8 percent, to 4442.10. Within the index, 38 stocks fell, nine rose and three were unchanged. Turnover was $127 million. Contact, the biggest power company on the exchange, tumbled 4.6 percent to $5.46. TrustPower declined 3.1 percent to $7.5...

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