MARKET CLOSE NZ shares extend rally; Xero, Metlifecare, Pacific Edge gain

Wed, 23 Oct 2013

Oct. 23 (BusinessDesk) – New Zealand shares extended their rally for a third day as Xero closed in on $30 a share, Metlifecare rose to a five-year high and Pacific Edged soared for a second day. The NZX 50 Index rose 44.606 points, or 0.9 percent, to 4876.395, a record close. Within the index, 34 stocks rose, 11 fell and five were unchanged. Turnover was $134 million. Xero, which is flush with funds to take on US market rivals with its cloud based accounting software, climbed 4.4 percent to $29.55 and has soared 272 percent this year. Pacifi...

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