MARKET CLOSE NZ shares fall as Meridian float looms; Sky TV, Fonterra drop

Mon, 23 Sep 2013

Sept. 23 (BusinessDesk) – New Zealand shares fell, with the NZX 50 Index extending its drop from a record, as investors prepare for the Meridian Energy sale and mull the potential end of US monetary stimulus. Sky Network Television and Fonterra Shareholders’ Fund paced the slide. The NZX 50 fell 29.003 points, or 0.6 percent, to 4701.374. Within the index, 39 stocks fell, seven rose and four were unchanged. Turnover was $117 million. The government is expected to raise between $1.9 billion and up to $2.3 billion from the sale of 49 percent o...

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