MARKET CLOSE: NZ shares extend gains as NZOG signals capital return

Tue, 04 Nov 2014

By Paul McBeth Nov. 4 (BusinessDesk) - New Zealand shares rose, pushing the NZX 50 Index to its ninth straight record close, as New Zealand Oil & Gas signalled plans for a capital return given cash flow from production at its Tui oil field. Dividend-paying stocks, including Meridian Energy and MightyRiverPower paced decliners. The benchmark index fell 5.04 points, or 0.1 percent, to 5423.259. Within the index, 18 stocks rose, 22 stocks fell, and 10 stocks were unchanged. Turnover was a lighter-than-usual $83 million. New Zealand Oil &...

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