MARKET CLOSE: NZ shares follows Wall St higher as earnings mixed; Xero, Trade Me, Meridian gain

Tue, 23 Feb 2016

By Sophie Boot Feb. 23 (BusinessDesk) - New Zealand shares followed Wall Street higher, as uneven local earnings sent mixed signals to investors. Xero, Trade Me Group and Meridian Energy gained, while Mighty River Power fell. The S&P/NZX 50 Index advanced 36.2 points, or 0.6 percent, to 6,175.67. Within the index, 28 stocks rose, 13 fell and nine were unchanged. Turnover was $162 million. Stocks across Asia were mixed, with China's Shanghai Composite index down 1.3 percent in afternoon trading as financial stocks dropped after the cen...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}