MARKET CLOSE: NZ shares gain as Trade Me hits record on takeover

Wed, 12 Dec 2018

By Paul McBeth Dec. 12 (BusinessDesk) - New Zealand shares joined an Asia-wide rally on signs that China-US trade relations may be thawing, while Trade Me hit a record on news the board will back a private equity takeover. The S&P/NZX 50 index climbed 67.42 points, or 0.8 percent, to 8,738.36. Within the index, 31 stocks gained, 13 fell and six were unchanged. Turnover was $132.2 million. Trade Me led the market higher, up 3.1 percent to a record close $6.37, in heavier than usual trading with 2.6 million shares changing hands. The o...

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