MARKET CLOSE: NZ shares gain; Fonterra Fund rises, Pumpkin Patch at record low

Fri, 25 Sep 2015

By Jonathan Underhill Sept. 25 (BusinessDesk) - New Zealand shares rose, as Xero gained and the Fonterra Shareholders' Fund advanced for a second day on the dairy cooperative's improved earnings and stronger forecast milk payout. Pumpkin Patch sank to a record low after cutting guidance and saying it was in talks with its bank. The S&P/NZX 50 Index increased 10.54 points, or 0.2 percent, to 5687.35. Within the index, 33 stocks rose, 10 fell and seven were unchanged. Turnover was $169 million. Xero, the cloud-based accounting company, r...

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