NZ's Contact Energy hits over 3-year high on supply deal with Rio Tinto

Meridian Energy

31/05/2024 24:40

** Shares of New Zealand's Contact Energy  CEN.NZ  rise as
much as 5.1% to NZ$9.250, their highest since Jan. 25, 2021
    ** Stock posts its biggest intraday percentage gain since
Feb. 1, 2021
    ** Electricity generation co signs supply agreement with Rio
Tinto's  RIO.AX  New Zealand Aluminium Smelter (NZAS) for a
maximum of 20 years
    ** Fellow energy suppliers Meridian Energy  MEL.NZ  and
Mercury NZ  MCY.NZ  climb as much as 4.5% and 3.8%,
respectively, on signing similar agreements with NZAS
    ** CEN stock up 9.9% YTD, as of last close

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))