MARKET CLOSE: NZ shares gain; Fletcher rises, Tower falls as investors assess quake impact

Mon, 14 Nov 2016

By Sophie Boot Nov. 14 (BusinessDesk) - New Zealand shares rose, led by companies that stand to benefit from earthquake repairs such as Fletcher Building and Metro Performance Glass, while general insurer Tower was the biggest decliner. The S&P/NZX 50 Index rose 39.98 points, or 0.6 percent, to 6,737.76. Within the index, 19 stocks rose, 27 fell and five were unchanged. Turnover was $109 million. The magnitude 7.5 quake just after midnight in the upper South Island cut roads, power and phone lines, disrupted rail and port services and...

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