MARKET CLOSE NZ shares rally on SkyCity’s Adelaide plans, blue-chip buying

Wed, 19 Dec 2012

Dec. 19 (BusinessDesk) – New Zealand shares rallied, pushing the NZX 50 Index back above 4000, as investors cheered SkyCity Entertainment Group’s Adelaide expansion and broadly stronger offshore equity markets lifted demand for companies including Fletcher Building and Telecom. The NZX 50 Index rose 43.75 points, or 1.1 percent, to 4023. Within the index, 36 stocks rose, eight fell, and six were unchanged. Turnover was a higher-than-average $188 million. Shares rallied in the Europe, the US and on into Asia amid optimism American politicians...

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