MARKET CLOSE: NZ shares fall; Meridian declines on Tiwai jitters

Mon, 13 Jul 2015

By Suze Metherell July 13 (BusinessDesk) - New Zealand shares fell, led by power companies including Meridian Energy and MightyRiverPower as uncertainty over the future of the Tiwai Point smelter continues to weigh on investment decisions. The S&P/NZX 50 Index declined 18.64 points, or 0.3 percent, to 5706.7. Within the index, 27 stocks fell, 13 rose and 10 were unchanged. Turnover was $121 million. Utility companies fell as investors wait for a decision on whether the Tiwai Point aluminium smelter, which uses a seventh of the countr...

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