Contact Energy and Meridian weaker as NZX 50 falls on global index changes
New Zealand sharemarket fell nearly 0.6% on Friday after energy stocks Contact and Meridian weakened following changes to a global index.
What happened
The S&P/NZX 50 Index closed at 13,753.73, down 79.07 points or 0.57% after reaching an intraday high of 13,875.4. Leading energy stocks Contact Energy and Meridian were weaker on changes in a global index.
Key facts
- S&P/NZX 50 closed at 13,753.73
- Index fell 79.07 points or 0.57%
- Intraday high reached 13,875.4
Covered byNZ HeraldBusinessDeskNot covered byRNZStuff1NewsNewstalk ZBOtago Daily TimesNewsroomThe Spinoffinterest.co.nz
Coverage across the news outlets we track, as at publication.
Where the outlets differ
Both outlets report the same market movement. The NZ Herald excerpt mentions a separate SkyCity asset sale but does not connect it to the index movement, while BusinessDesk focuses solely on the energy stocks and index changes.
What outlets are saying
BusinessDesk
Contact and Meridian fall on global index changes
Leading energy stocks Contact Energy and Meridian were weaker on changes in a global index as the New Zealand sharemarket ended the week with a fall of nearly 0.6%. The S&P/NZX 50 Index dipped at midday and closed at 13,753.73,…
NZ Herald
Contact shares fall after clean energy index removal as NZX dips – Market close
The conditional $221m Grand Hotel sale would take SkyCity’s asset sales to $295.5m.