MARKET CLOSE: NZ shares jump as RBNZ signals low rates for longer, Xero climbs on earnings

Thu, 11 May 2017

By Rebecca Howard May 11 (BusinessDesk) - New Zealand shares pushed higher after the central bank held interest rates at a record low and unexpectedly kept its forecast rate track unchanged, stoking demand for dividend-paying stocks including property firms and power companies. Xero led gains after it crept closer to profitability. The S&P/NZX 50 added 66 points or 0.9 percent to 7,489.710. Within the index, 38 stocks rose, four were unchanged and eight fell. Turnover was $180 million. New Zealand's share market outperformed most o...

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