MARKET CLOSE: NZ shares hit record, Air NZ and Tower gain, Steel & Tube slides

Mon, 30 May 2016

By Sophie Boot May 30 (BusinessDesk) - New Zealand's benchmark stock index hit a record high, led by Air New Zealand and Tower, while Steel & Tube Holdings continued to decline. The S&P/NZX 50 Index rose 27.09 points, or 0.4 percent, to 7,019.64. Within the index, 25 stocks rose, 16 fell and nine were unchanged. Turnover was $97.6 million Air New Zealand led gainers on the index, rising 4 percent to $2.215. It sank to its lowest level since November 2014 last week on concern about increased competition and the likelihood that Virgin Au...

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