MARKET CLOSE NZ stocks fall; investors make room for Genesis as MRP, Meridian, Contact decline

Fri, 21 Mar 2014

By Suze Metherell March 21 (BusinessDesk) – New Zealand shares fell after energy companies weighed on the market as investors made room in their portfolios ahead of the listing of Genesis Energy next month. Vector, Meridian Energy, MightyRiverPower and Contact Energy fell. The NZX50 Index fell 35.396 points, or about 0.7 percent, to 5124.994. Within the index, 27 stocks fell, 13 rose and 10 were unchanged. Turnover was $349 million, one third of which was Xero. Genesis, New Zealand’s largest electricity retailer by customer base, is the las...

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