MARKET CLOSE: NZ shares extend rally as low rates keeps yield stocks in play; Air NZ gains on cost-cutting plan

Thu, 28 Mar 2019

By Paul McBeth March 28 (BusinessDesk) - New Zealand shares extended their rally as the prospect of low interest rates maintained the appeal of companies with reliable dividends, such as Genesis Energy and Trustpower. Air New Zealand rose on plans to cut costs. The S&P/NZX 50 Index rose 67.3 points, or 0.7 percent, to a record 9,766.19. Within the index, 30 stocks gained, 15 fell, and five were unchanged. Turnover was $102.1 million. Swap rates hit new lows today, following the Reserve Bank's unexpected adoption of a bias to cut the...

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