Shares tumble as investors return to work

Mon, 11 Jan 2021

Most New Zealand shares tumbled today as investors took profit from electricity utilities and other stocks run up to record highs during the holiday period. The S&P/NZX 50 Index fell 268.1 points, or 2 percent, to 13,290.09. Within the index, 34 stocks fell, 12 rose and four were unchanged. Turnover was $136.6 million.The vast majority of stocks fell as investors who returned from holidays found the market sitting at a record high and decided to cash in some profits. Renewable electricity generators took the biggest falls, as stro...

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