MARKET CLOSE: NZ stocks fall on earnings, election uncertainty; Contact, Meridian drop

Wed, 16 Jul 2014

By Suze Metherell July 16 (BusinessDesk) - New Zealand stocks edged lower as uncertainty around stock valuations ahead of reporting season and the outcome of September's general election weighed on investors. Contact Energy, Meridian Energy and Vector fell. Port of Tauranga gained on a deal with shipping giant Maersk. The NZX 50 Index fell 1.153 points, or 0.02 percent, to 5114.243. Within the index, 22 stocks fell, 18 rose and 10 were unchanged. Turnover was $119.3 million. Investors are mulling the 8 percent gain the benchmark index...

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