MARKET CLOSE NZ shares rise; MRP, Meridian and Vector gain ahead of Genesis IPO

Fri, 04 Apr 2014

By Suze Metherell April 4 (BusinessDesk) – New Zealand stocks rose ahead of the Genesis Energy offer as investors sought to reweight their energy holdings in anticipation they won’t be allocated as many shares in Genesis as they had hoped. Meridian Energy, MightyRiverPower and Vector advanced. The NZX 50 Index rose 1.529 points, or 0.03 percent, to 5123.901. Within the index stocks were mixed as 16 rose, 21 fell and 13 were unchanged. Turnover was $113.7 million. Genesis, New Zealand’s largest electricity retailer by customer base, is the l...

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