NZX 50 falls as Meridian hits three-month low

New Zealand’s benchmark equity index deflated further as shares of renewable energy firms plunged to three-month lows.The S&P/NZX 50 Index dropped 171.49 points, or 1.3 percent, to 12,589.64. Within the index, 32 stocks fell, 15 rose and three were unchanged. Turnover was $162.8 million.Shares of Meridian Energy tumbled 7 percent to $5.81 as Forsyth Barr analysts warned that changes to an S&P Dow Jones clean energy index in April may result in 80 million shares, or 6 percent of available shares, being sold. In the same review...