MARKET CLOSE: NZ shares fall; Metlifecare takeover boosts retirement stocks

Mon, 30 Dec 2019

New Zealand shares fell, with blue-chip stocks such as Meridian Energy and Auckland International Airport following Australia’s market lower. Retirement village operators were stronger as Metlifecare’s $1.5 billion takeover bid stoked demand for its rivals. The S&P/NZX 50 Index decreased 45.67 points, or 0.4 percent, to 11,556.45. Within the index, 23 stocks fell, 18 rose, and nine were unchanged. Turnover was $81.1 million, of which Metlifecare accounted for $31.2 million. The local market fell in tandem with Australia’s S&P/ASX 200 In...

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