MARKET CLOSE: NZ shares fall as weak oil, Chinese exports weigh on market; MRP, Contact, Genesis drop

Tue, 08 Dec 2015

By Sophie Boot Dec. 8 (BusinessDesk) - New Zealand shares fell, joining a global selloff, on concern declining oil prices and slowing Chinese exports signal weaker global growth. Mighty River Power, Contact Energy and Genesis Energy led the decline. The S&P/NZX 50 Index slipped 29.43 points, or 0.5 percent, to 6035. Within the index, 28 stocks fell, 15 rose and seven were unchanged. Turnover was $189 million. Oil prices slumped to their lowest levels since 2009 after the Organisation of the Petroleum Exporting Countries agreed to keep...

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