MARKET CLOSE: NZ shares gain as Freightways rises to record; Chorus falls

Thu, 04 Dec 2014

By Suze Metherell Dec. 4 (BusinessDesk) - New Zealand shares rose led by Freightways, which rose to a record after acquiring an Australia data management company. Chorus fell from a 14-month high as investors looked to cash in recent gains. The NZX 50 Index rose 19.616 points, or 0.4 percent, to 5522.682. Within the index, 25 stocks rose, 16 fell and nine were unchanged. Turnover was $160 million. Freightways advanced 4.6 percent to a record $5.96. The listed courier and data management company will spend up to A$30 million on Australi...

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