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Sharemarket closed in the red as investors await details on Tiwai Point deal –

The sharemarket closed down 0.03 per cent as the market anticipated details on Meridian Energy and Contact Energy agreement.



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The sharemarket fell on declines in energy stocks as investors await more details of an agreement for Meridian Energy and Contact Energy to continue to supply big power user Tiwai Point aluminium smelter for a few more years.
The benchmark S&P/NZX 50 Index slipped 4.405 points, or 0.03 per cent, to 13,115.87 on Thursday.
Contact fell 2.61 per cent to $9.69. Mercury Energy slid 2.74 per cent to $7.10. Genesis Energy bucked the trend up 1.08 per cent to $3.74.
Meridian spent most of the day in…

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