MARKET CLOSE: NZ shares fall as market digests 53% of Contact Energy

Tue, 04 Aug 2015

By Pattrick Smellie Aug. 4 (BusinessDesk) - New Zealand shares fell, with the NZX 50 Index retreating from a record high, as investors sold down their holdings to participate in the bookbuild for the 53.1 percent of Contact Energy being offloaded by Origin Energy at a discount. MightyRiverPower and Spark New Zealand were among decliners. The S&P/NZX 50 Index fell 24.09 points, or 0.4 percent, to 5933.76. Within the index, 33 stocks fell, nine rose and eight were unchanged. Turnover was $155 million. Contact shares remained suspended,...

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