MARKET CLOSE NZ shares fall as Vector faces price controls

Wed, 24 Oct 2012

Oct. 24 (BusinessDesk) - New Zealand shares fell, led by Auckland-based pipeline company Vector, after the Commerce Commission recommended price controls on its gas network. Goodman Fielder led gaining stocks. The NZX 50 Index fell 2.81 points, or 0.1 percent, to 4001.44, still near the highest in more than four years. Within the index, 24 stocks fell, 16 rose and 10 were unchanged. Turnover was $134 million. Vector dropped 5.2 percent to $2.75. The network owner would have to accept a 25 percent cut to its transmission charges for gas pipel...

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