MARKET CLOSE: NZ shares fall as weak oil, Chinese exports weigh on market; MRP, Contact, Genesis drop
By Sophie Boot Dec. 8 (BusinessDesk) - New Zealand shares fell, joining a global selloff, on concern declining oil prices and slowing Chinese exports signal weaker global growth. Mighty River Power, Contact Energy and Genesis Energy led the decline. The S&P/NZX 50 Index sli...
MARKET CLOSE: NZ shares fall, led by Contact, Xero; Trade Me gains
By Sophie Boot Dec. 7 (BusinessDesk) - New Zealand shares fell after Contact Energy said it doesn't expect growth in operating earnings this year and investors continued to punish Xero after key executives sold down their holdings. The S&P/NZX 50 index dropped 30.4 points,...
Low hydo, geothermal outage, Origin costs hit Contact's November performance
By Sophie Boot Dec. 7 (BusinessDesk) - Contact Energy's operational performance for November was worse than expected, leading the company to warn its full year operating earnings are not expected to be much different from last year's. However, the electricity generator and...
Steel & Tube upgrades processing facilities, sells old factory for $8.4 million
By Sophie Boot Dec. 7 (BusinessDesk) - Steel & Tube Holdings, New Zealand's biggest steel distribution company, has sold its former processing facility for $8.4 million having shifted manufacturing to a new purpose-built site in Auckland. The Petone-based company will reco...
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