MARKET CLOSE NZ shares rally as Fletcher, Auckland Airport beat estimates

Wed, 21 Aug 2013

Aug. 21 (BusinessDesk) – New Zealand shares rose, after Fletcher Building and Auckland International Airport posted annual earnings that beat estimates. Trade Me fell after saying 2012 earnings growth would slow as it ramps up investments. The NZX 50 Index rose 43.152 points, or about 1 percent, to 4551.508. Within the index, 25 stocks rose, 18 fell and seven were unchanged. Turnover was a higher-than-average $293 million, with Auckland Airport accounting for about $90 million and Fletcher making up about $57 million. Fletcher, the biggest...

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