MARKET CLOSE: NZ shares slip as appetite for yield stocks dims; Chorus, Genesis decline

Wed, 27 Dec 2017

By Paul McBeth Dec. 27 (BusinessDesk) - New Zealand shares slipped in thin holiday trading as appetite for companies offering attractive dividend yields, such as regulated utilities Chorus and Genesis Energy and pay-TV operator Sky Network Television declined. The S&P/NZX 50 index decreased 20 points, or 0.2 percent, to 8,374.43. Within the index, 25 stocks fell, 16 gained, and nine were unchanged. Turnover was a lighter-than-normal $65.8 million. Electricity generator-retailer Genesis Energy led the benchmark index lower, falling 2....

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