MARKET CLOSE NZ shares gain on Summerset earnings; Fletcher rises, Chorus falls

Mon, 25 Feb 2013

Feb. 25 (BusinessDesk) – New Zealand shares rose, led by Summerset Group after the retirement village operator beat its IPO targets by tripling full-year earnings and raising its dividend. Chorus and Heartland New Zealand both fell after posting their results. The NZX 50 Index gained 11.84 points, or 0.3 percent, to 4226.44. Within the index, 23 stocks rose, 19 fell and eight were unchanged. Turnover was $143 million. Summerset rose 3.2 percent to $2.56 after reporting full-year profit of $14.8 million and declaring a dividend of 2.5 cents p...

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