MARKET CLOSE: NZ shares fall; Contact drops 9% on offshore plans; Genesis declines

Mon, 16 Feb 2015

By Suze Metherell Feb. 16 (BusinessDesk) - New Zealand shares fell, led by Contact Energy after it flagged plans to invest offshore. Genesis Energy and Meridian Energy declined as enthusiasm for the sector cooled. The NZX 50 Index fell 28.295 points, or 0.5 percent, to 5758.245. Within the index, 23 stocks fell, 13 rose and 14 were unchanged. Turnover was $108 million. Contact dropped 9 percent to $6.30. The energy generator and retailer kept its first-half dividend unchanged and said it would look offshore for better returns after fir...

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