MARKET CLOSE NZ shares fall on Meridian IPO, US impasse; Z Energy at post-float high

Fri, 04 Oct 2013

Oct. 4 (BusinessDesk) – New Zealand shares fell in subdued trading, paced by Pumpkin Patch, Auckland International Airport and Kathmandu Holdings as investors freed up funds for the Meridian Energy sale and the US budget shutdown sapped risk appetite. Z Energy rose to a post-float high. The NZX 50 Index fell 10.831 points, or 0.2 percent, to 4759.384. Within the index, 17 stocks fell, 22 rose and 11 were unchanged. Turnover was $91.5 million. The retail component of the government’s sale of 49 percent of Meridian closes on Oct. 18 while the...

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