BlackRock dumps $1 billion stake in Meridian and Contact

Dan Brunskill
Fri, 16 Apr 2021

Dan Brunskill
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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