MARKET CLOSE: NZ shares fall as yield stocks face selling

Thu, 24 Oct 2019

New Zealand shares fell, with a number of utilities and property stocks held of their reliable dividends leading the market lower. Power companies were generally flat on large volumes after yesterday's savaging. The S&P/NZX 50 Index decreased 22.27 points, or 0.2 percent, to 10,831.52. Within the index, 22 stocks fell, 17 rose, and 11 were unchanged. Turnover was $143.9 million of which the big four electricity suppliers accounted for $65.8 million. Chorus led the market lower, down 2.4 percent at $5.32 on a volume of 248,000 shares, le...

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