MARKET CLOSE NZ shares gain as Contact, ‘regulated’ companies recover

Mon, 22 Apr 2013

April 22 (BusinessDesk) – New Zealand shares rose as companies in regulated markets, such as Contact Energy and Chorus, recovered from last week’s selloff and among small caps, Ecoya soared after beating its earnings guidance. The NZX 50 Index rose 39.156 points, or 0.9 percent, to 4483.65, a record high close. Within the index, 35 stocks rose, 10 fell and five were unchanged. Turnover was $139 million. Contact, the biggest power company on the exchange, rose 1.5 percent to $5.39. The shares dropped to the lowest in more than a month last we...

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