MARKET CLOSE: NZ shares gain; Trade Me jumps as Fairfax sells down

Mon, 18 Jun 2012

June 18 (BusinessDesk) - New Zealand shares rose, led by online auction site Trade Me after parent Fairfax Media sold down its stake to pay for a three-year restructuring of its newspapers. Xero and Diligent fell on their debut in the NZX 50 Index, having risen ahead of today. The NZX 50 rose 8.604 points, or 0.3 percent, to 3455.678. Within the index, 21 stocks rose, 20 fell and nine were unchanged. Turnover was about $211 million, twice the daily average, with almost half of that made up in Trade Me. Shares of Trade Me rose 5.6 percent to...

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