MARKET CLOSE: NZ shares fall led by Genesis, Meridian rebounds

Wed, 29 Apr 2015

By Suze Metherell April 29 (BusinessDesk) - New Zealand shares fell, led by Genesis Energy after the partially privatised power company cut its earnings forecast. Meridian Energy advanced as investors returned to the sold-down stock. The NZX 50 Index fell 28.836 points, 0.5 percent, to a two month low of 5740.816. Within the index, 31 stocks fell, 12 rose, and seven were unchanged. Turnover was $128 million. Genesis led the benchmark index lower dropping 7.6 percent to $1.995, its lowest level since last November. New Zealand's large...

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