MARKET CLOSE NZ shares gain; Xero, Ryman, Summerset at record, Chorus drops

Tue, 05 Nov 2013

Nov. 5 (BusinessDesk) – New Zealand shares rose as Xero, Ryman Healthcare and Summerset Group all rose to record highs. Chorus was the biggest decliner after the regulator reiterated the need for price cuts for network access. The NZX 50 Index gained 28.026 points, or 0.6 percent, to 4938.702. Within the index, 21 stocks rose, 18 fell and 11 were unchanged. Turnover was $118 million. Xero, the cloud-based accounting company that raised $180 million from mainly US investors last month, jumped 10 percent to $33.15. Its market value of $4.23 bi...

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