MARKET CLOSE: NZ shares gain as investors eye rate cut change; Sky TV, Port of Tauranga gain

Tue, 04 Sep 2018

By Paul McBeth Sept. 4 (BusinessDesk) - New Zealand shares rose as investors weigh up the prospect of a potential rate cut, spurring demand for stocks with high dividends, in a world economy that remains relatively robust. Sky Network Television, Spark New Zealand and Chorus gained. The S&P/NZX 50 index gained 34.86 points, or 0.4 percent, to 9,292.15. Within the index, 32 stocks gained, 14 fell and four were unchanged. Turnover was $124.4 million. Traders are pricing in a 50 percent chance New Zealand's Reserve Bank will cut the off...

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