BlackRock dumps $1 billion stake in Meridian and Contact

Fri, 16 Apr 2021

Trading volumes surged and the market edged higher as passive fund manager BlackRock sold more than $1 billion worth of shares in Contact Energy and Meridian Energy.The S&P/NZX 50 Index rose 48.2 points, or 0.3%, to 12,684.73. Within the index, 23 stocks rose, 19 fell and eight were unchanged. Turnover was an enormous $1.4b.Renewable electricity generator, Meridian Energy saw more than 106 million shares change hands, or 4.1% of all shares on issue, pushing its price up 0.8% to $6.05. Another 81.5 million Contact Energy shares were bou...

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