MARKET CLOSE: NZ shares gain as prospect of rate cut stokes demand for yield stocks

Thu, 07 Feb 2019

By Paul McBeth Feb. 7 (BusinessDesk) - New Zealand shares gained as growing expectations of lower interest rates stoked demand for companies offering regular dividend income, such as Chorus and Meridian Energy. Dairy companies A2 Milk Co and Synlait Milk were boosted by stronger demand for dairy products. The S&P/NZX 50 index rose 59.79 points, or 0.7 percent, to 9,133.51. Within the index, 27 stocks gained, 14 fell and nine were unchanged. Turnover was $116.9 million. Stocks across Australia and New Zealand gained as investors incre...

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