MARKET CLOSE: NZ shares soar on election result, led by energy companies

Mon, 22 Sep 2014

By Suze Metherell Sept. 22 (BusinessDesk) - New Zealand shares jumped, led by MightyRiverPower, after the National Party's convincing election victory on the weekend wiped out any regulatory fears for the power companies. Meridian Energy, Genesis Energy and Contact Energy paced gains. The NZX 50 Index advanced 54.947 points, or 1.1 percent, to 5236.292. Within the index, 27 stocks rose, 13 fell and 10 were unchanged. Turnover was $144.2 million. During the day, benchmark index climbed as much as 74.926 points, or 1.5 pecent, after Satu...

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