MARKET CLOSE NZ shares rally; NZX gains on listing prospects after ruling

Wed, 27 Feb 2013

Feb. 27 (BusinessDesk) – New Zealand shares rose, pushing the NZX 50 Index to a new five-year high, as a court ruling allowing the sale of MightyRiverPower stoked optimism for new NZX listings. The NZX 50 rose 37.40 points, or 0.9 percent, to 4276.31, the highest close since October 2007. Within the index, 31 stocks rose, 12 fell and seven were unchanged. Turnover was a higher-than-average $160 million. The Supreme Court today dismissed attempts by Maori claimants to settle Treaty of Waitangi claims to freshwater rights before the sale of 49...

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