New Zealand: Shares drop for second day

New Zealand shares fell for a second day on Tuesday, 06 May, 2014, with the NZX 50 Index extending is slide from a record. By the provisional closing, the benchmark index fell 25.356 points, or about 0.5 percent, to 5174.897. Energy stocks fell, paced by Meridian Energy, MightyRiverPower and Contact Energy, on concern missteps by National ministers have dented the party's re-election prospects, Prime Minister John Key has been forced to accept Maurice Williamson's resignation as a minister while opposition parties have called for the resignation of justice minister Judith Collins over her support for Oravida, an exporter to China that is linked to her husband and is a National Party donor.

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