MARKET CLOSE: NZ shares gain as ANZ Bank rises after results; Tegel climbs on debut

Tue, 03 May 2016

By Jonathan Underhill May 3 (BusinessDesk) - New Zealand shares rose after Australia & New Zealand Banking Group's decision to cut its dividend was taken as a sign of prudent management. Air New Zealand rose after saying it was well-placed to foot it in a competitive air travel market and Tegel Group Holdings rose in its NZX debut. The S&P/NZX 50 Index gained 51.2 points, or 0.8 percent, to 6,843.01. Within the index, 31 stocks rose, nine fell and nine were unchanged. Turnover was $138 million. ANZ Bank gained 5.7 percent to $26.98 on...

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