MARKET CLOSE: NZ shares gain, Steel & Tube and Summerset lead index on positive earnings

Mon, 15 Aug 2016

By Sophie Boot Aug. 15 (BusinessDesk) - New Zealand shares gained as early earnings reports skewed positive, with Steel & Tube Holdings and Summerset Group gaining on their results. The S&P/NZX50 Index rose 25.25 points, or 0.3 percent, to 7,388.35. Within the index, 31 shares rose, 17 fell and three were unchanged. Turnover was $109 million. Steel & Tube Holdings led the index, up 10.5 percent to $2.42, a ten-month high. First NZ Captial analysts raised their rating on the stock following the steel products maker posting better-than-e...

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