MARKET CLOSE NZ shares gain, led by Fletcher on expected earnings growth

Tue, 20 Nov 2012

By Paul McBeth Nov. 20 (BusinessDesk) - New Zealand shares gained, led by Fletcher Building after the biggest listed company forecast earnings growth of up to 22 percent, lifting the NZX 50 Index higher. NZ Oil & Gas was the biggest decliner. The NZX 50 Index rose 30.37 points, or 0.8 percent, to 3972.97. Within the index, 29 stocks gained, 10 fell and 11 were unchanged. Turnover was a bigger-than-normal $177.5 million, with Fletcher shares accounting for $87.9 million today. Fletcher Building led gainers, rising 3.7 percent to a 13-month...

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