MARKET CLOSE: NZ shares gain slightly, Tegel bounces while Air NZ drops on new competition

Mon, 03 Oct 2016

By Sophie Boot Oct. 3 (BusinessDesk) - New Zealand shares gained slightly in light trading, led by Tegel Group Holdings and Meridian Energy while Air New Zealand dropped. The S&P/NZX50 Index rose 11.4 points, or 0.2 percent, to 7,372.49. Within the index, 27 stocks rose, 16 fell and seven were unchanged. Turnover was $100.5 million. Tegel Group Holdings was the best performer on the index, up 5.3 percent to $1.59. The poultry group, which was taken public by private equity firm Affinity Equity Partners in May this year, rose 9 percent...

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