MARKET CLOSE:NZ shares fall; Genesis, Merdian drop as investors book gains

Wed, 12 Nov 2014

By Suze Metherell Nov. 12 (BusinessDesk) - New Zealand shares fell, snapping four days of gains, led by Genesis Energy, Meridian Energy and MightyRiverPower as investors looked to crystalise gains in the energy companies. Kiwi Income Property Trust, DNZ Property Fund and Goodman Property Trust gained after posting earnings. The NZX 50 Index fell 2.904 points, or 0.1 percent, to 5487.887. Within the index stocks were mixed as 15 stocks fell, 24 rose and 11 were unchanged. Turnover was $152 million. So-called gentailers, which are favour...

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