MARKET CLOSE: NZ shares gain, led by Xero

Fri, 25 Jul 2014

By Tina Morrison July 25 (BusinessDesk) - New Zealand shares rose, led by Xero after investors gained confidence about the cloud-based accounting software firm's US expansion plans following upbeat comments at the company's annual meeting this week. The NZX 50 Index rose 19.556 points, or 0.4 percent, to 5,194.268. Within the index 21 stocks rose, 18 fell and 11 were unchanged. Turnover was $121 million. Xero advanced 5.7 percent to $25.90. The stock has gained 9.8 percent since its annual general meeting in Wellington on Wednesday whe...

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