MARKET CLOSE: Kathmandu leads the NZX 50 higher on positive US sentiment

Mon, 08 Aug 2016

By Sophie Boot Aug. 8 (BusinessDesk) - New Zealand shares rallied with global markets after positive leads from the US, with the local market led by Kathmandu Holdings and Australia & New Zealand Banking Group. The S&P/NZX50 Index rose 39.88 points, or 0.6 percent, to 7,348.3. Within the index, 32 stocks rose, 11 fell and eight were unchanged. Turnover was $121.7 million. Kathmandu led the index, up 4.3 percent to $1.93. Last week, the retailer said its annual profit rose as much as 67 percent on fatter margins. Net profit was between...

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