MARKET CLOSE: NZ shares climb to record on low rate outlook; Synlait recovers

Fri, 22 Mar 2019

By Paul McBeth March 22 (BusinessDesk) - New Zealand shares rose to a record as the prospect of low interest rates for even longer stoked demand for companies offering regular income such as Meridian Energy and Mercury NZ. Synlait Milk extended its recovery from a weak first-half result earlier this week. The S&P/NZX 50 Index climbed 89.68 points, or 0.9 percent, to a record 9,550.99. Within the index, 36 stocks gained, 10 fell, and four were unchanged. Turnover was $106.7 million, with just five companies trading on volumes of more than...

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