MARKET CLOSE NZ shares fall as smelter standoff weighs on Contact

Tue, 02 Apr 2013

April 2 (BusinessDesk) – New Zealand shares fell as investors fretted the standoff between Rio Tinto and the government over the price of electricity to the Bluff smelter could see the plant closed, denting power demand and hurting profits at Contact Energy. The NZX 50 Index declined 11.34 points, or 0.3 percent, to 4411.41. Within the index, 21 stocks fell, 19 rose and 10 were unchanged. Turnover was $110 million. Contact, the biggest power company on the NZX 50, fell 3.3 percent to $5.51 after Prime Minister John Key said the government ha...

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