MARKET CLOSE: NZ shares fall; Gentrack sinks on UK energy market fears

By Paul McBeth | Mon, 02 Dec 2019


New Zealand shares snapped five days of gains, led lower by Gentrack as investors fretted over how the utilities software developer will cope with ongoing turmoil in Britain’s electricity market. The S&P/NZX 50 Index decreased 14.60 points, or 0.1 percent, to 11,301.98. Within the index, 26 stocks fell, 22 rose, and two were unchanged. Turnover $108 million. Gentrack led the market lower, down 6.3 percent at $3.75, its lowest level since March 2017. The stock has slumped 27.2 percent since issuing its third profit warning on Nov. 21, and...