The Markets

Market Close: Electricity stocks fall as interest rates rise

Tuesday 16th of November 2021

The S&P/NZX 50 Index fell 62 points, or 0.5%, to 12902.71. Turnover was $134 million.

Three of the top five decliners on the index today were electricity generators, which are often bought by investors as they provide a steady dividend yield.

However, higher yields on government bonds have been reducing what the market is willing to pay for stocks that carry more risk than a...

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