MARKET CLOSE: NZ shares fall led by Pacific Edge; MRP, Spark gain

Tue, 20 Jan 2015

By Suze Metherell Jan. 20 (BusinessDesk) - New Zealand shares fell, led by Pacific Edge and Tower as investors looked to cash in some profits on fully-valued stocks ahead of the upcoming reporting season. Companies with steady income streams such as MightyRiverPower, Spark New Zealand and Contact Energy rose. The NZX 50 Index fell 4.921 points, or 0.1 percent, to 5633.216. Within the index, 20 stocks fell, 21 rose and nine were unchanged. Turnover was $107 million. Investors are looking to the upcoming reporting season to justify the b...

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