MARKET CLOSE: NZ shares edge lower; power companies under pressure

Fri, 15 Nov 2019

New Zealand shares edged lower as electricity companies remained under pressure as the future of the Tiwai Point smelter remains uncertain and after a weak operating update from Contact Energy. The S&P/NZX 50 Index decreased 4.55 points, or 0.04 percent, to 10,894.70. Within the index, 21 stocks fell, 23 rose, and six were unchanged. Turnover was $131.4 million. Blue-chip stocks and companies held for the reliable dividends were among those to decline, despite a recent slide in bond yields that would typically make equity markets more a...

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