MARKET CLOSE: NZ shares gain; Chorus, Telecom lead NZX 50 gains

Thu, 14 Jun 2012

June 14 (BusinessDesk) - New Zealand shares rose, pushing the NZX 50 Index up 1 percent, led by gains in network company Chorus and Telecom and as some investors bet Sky City Entertainment Group will eventually get its convention hall-for-slots deal. The NZX 50 rose 34.35 points, or 1 percent, to 3416.08. Within the index, 23 stocks gained, 15 fell and 12 were unchanged. Turnover was $113 million. Shares rose after the Reserve Bank kept the official cash rate at a record low 2.5 percent and hinted that economic headwinds are sufficiently str...

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