MARKET CLOSE: NZ shares fall, led by Contact, Xero; Trade Me gains

Mon, 07 Dec 2015

By Sophie Boot Dec. 7 (BusinessDesk) - New Zealand shares fell after Contact Energy said it doesn't expect growth in operating earnings this year and investors continued to punish Xero after key executives sold down their holdings. The S&P/NZX 50 index dropped 30.4 points, or 0.5 percent, to 6064.42. Within the index, 24 stocks rose, 19 fell and 7 were unchanged. Turnover was $133 million. Contact Energy led the index lower, falling 6 percent to $4.70, a 22-month low. The electricity generator and retailer said its operational performa...

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