MARKET CLOSE: NZX50 stumbles over smelter scare

Fri, 25 Oct 2019

New Zealand shares fell 2.5 percent this week as the threat of the Tiwai Point smelter closure tripped up electricity companies that had been on a tear, and gave investors cause to ponder the slowing economy. The S&P/NZX 50 Index decreased 42.88 points, or 0.4 percent, to 10,788.64, and was down from 11,067.12 last week. Within the index, 26 stocks fell, 13 rose, and 11 were unchanged. Turnover was $110.8 million. The electricity generator-retailers have been in focus this week due to Rio Tinto warning that the future of the Tiwai Point...

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