MARKET CLOSE: NZ shares fall, paced by Contact, Meridian, MRP

Mon, 04 May 2015

By Suze Metherell May 4 (BusinessDesk) - New Zealand shares fell, paced by Contact Energy, Meridian Energy and MightyRiverPower, as investors weighed the outlook for the energy sector. Westpac Banking Corp fell after reporting first-half earnings. The NZX 50 Index fell 30.322 points, or 0.5 percent, to 5767.078. Within the index, 26 stocks fell, 11 rose, and 13 were unchanged. Turnover was $80 million. The NZX Energy Index has gained 33 percent over the past 12 months, fuelled by investors hunt for income paying equities. Last week go...

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