MARKET CLOSE NZ shares rise as Genesis debut sparks energy rally; Meridian, MRP, Contact gain

Thu, 17 Apr 2014

By Suze Metherell April 17 (BusinessDesk) – New Zealand stock rose after shares in the partially privatised Genesis Energy soared as much as 18 percent in its debut listing on the NZX, buoying other listed energy companies in the process. Meridian Energy, MightyRiverPower, Contact Energy and TrustPower paced gains. The NZX 50 Index rose 12.799 points, or about 0.3 percent, to 5103.348. Within the index, 22 stocks rose, 17 fell and 11 were unchanged. Turnover was $149.6 million, which excludes Genesis, which is not part of the index as yet....

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