NZX 50 finishes the week down 3 percent

Fri, 15 Jan 2021

New Zealand’s benchmark equity index fell 3.4 percent this week as highly priced renewable energy stocks came crashing back to earth and bond yields moved higher. The S&P/NZX 50 Index fell 91.18 points, or 0.7 percent, to 13,024 today. Within the index, 27 stocks fell and 23 rose. Turnover was $154.5 million.Today’s decline pulls the index back to where it was before Christmas, reversing all the gains made through the holiday period. The main driver of this fall has been the market correcting the price of Merid...

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