MARKET CLOSE: NZ shares fall, led by Steel & Tube; Meridian falls

Wed, 18 Mar 2015

By Suze Metherell March 18 (BusinessDesk) - New Zealand shares fell, led by Steel & Tube Holdings, as investors took advantage if recent market gains to reduce their holdings. Spark New Zealand, Contact Energy and Meridian Energy paced the decline. The NZX 50 Index fell 58.744 points, or 1 percent, to 5846.663. Within the index, 33 stocks fell, 11 rose and six were unchanged. Turnover was $265 million. The benchmark index has gained 6.1 percent since the last of year pushed to record highs by investors seeking income paying equities....

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