MARKET CLOSE NZ stocks fall; MightyRiverPower, Contact, Meridian drop

Tue, 03 Dec 2013

Dec. 3 (BusinessDesk) – New Zealand shares fell, paced by power companies MightyRiverPower, Contact Energy and Meridian Energy against a backdrop of an opposition party threat to control prices, broadly stagnant demand and a new Electricity Authority probe. The NZX 50 Index fell 8.476 points, or 0.2 percent, to 4783.853. Within the index, 27 stocks fell, 17 rose and six were unchanged. Turnover was $137 million. MightyRiverPower fell 1.9 percent to $2.06, Contact Energy dropped 1.3 percent to $4.75 and Meridian declined 2.1 percent to 95 cen...

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