MARKET CLOSE: NZ shares fall as political polls weigh on utilities

Mon, 18 Aug 2014

By Paul McBeth Aug. 18 (BusinessDesk) - New Zealand shares fell, paced by power companies, as political polls showing declining support weigh on regulated utilities in a thinly traded market. The NZX 50 Index fell 6.962 points, or 0.1 percent, to 5071.119. Within the index, 25 stocks fell, 20 gained, and five were unchanged. Turnover was a smaller-than-usual $85.1 million. Power companies gained nothing from strong results announced today by Contact and Meridian Energy, as recent political polls showed reduced support for the incumbent...

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