MARKET CLOSE: NZ shares fall as energy sector sell-off continues

MARKET CLOSE: NZ shares fall as energy sector sell-off continues
Dan Brunskill
New Zealand shares fell as energy stocks declined for a second day following the announcement Rio Tinto’s New Zealand aluminium smelter will close. Chorus led the market lower on the risk of more regulation. The S&P/NZX 50 Index declined 46.02 points, or 0.4 percent, to 11,394.86. Within the index, 20 stocks fell, 23 rose, and seven were unchanged. Turnover was $144.6 million. The benchmark dropped as investors continued to sell positions in energy stocks that have been negatively affected by the closure of the aluminium smelter that u...

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