MARKET CLOSE NZ shares gain as investors favour growth stocks in reviving economy

Fri, 10 Jan 2014

By Tina Morrison Jan. 10 (BusinessDesk) – New Zealand shares rose as investors turned to equities in search of growth on optimism local companies will benefit from a reviving economy. The NZX 50 Index gained 49.517 points, or 1 percent, to 4,864.391. Within the index, 33 stocks rose, 10 fell and seven were unchanged. Turnover was $109 million. “Investors are purely chasing growth,” said Grant Williamson, a director at brokerage Hamilton Hindin Greene. “They have read and seen and heard about the economic outlook for 2014 and it’s given inve...

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