MARKET CLOSE: NZ shares gain led by A2 Milk; Xero reaches 3-year high

Mon, 31 Jul 2017

By Jonathan Underhill July 31 (BusinessDesk) - New Zealand shares rose led by A2 Milk amid optimism it will stand to benefit from Chinese efforts to reduce the number of infant formula brands available in its market, while Xero reached a three-year high as investors were drawn back to its growth story. The S&P/NZX 50 Index rose 54.48 points, or 0.7 percent, to 7,693.99. Within the index, 34 stocks rose, nine fell and seven were unchanged. Turnover was $164 million. A2 rose 3 percent to $4.41, coming within 11 cents of the record reache...

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