MARKET CLOSE: NZ shares rally, paced by Fletcher, Nuplex on Australian growth

Wed, 06 Jun 2012

June 06 (BusinessDesk) - New Zealand shares rose after economic growth in Australia, the nation’s biggest trading partner, beat estimates and prices of dairy products rebounded from a three-year low. Fletcher Building, Nuplex Industries and Kathmandu paced the rally. The NZX 50 Index rose 43.72 points, or 1.3 percent, to 3464.51. Within the index, 32 stocks rose, 11 fell and seven were unchanged. Turnover was a lower-than-average $53.7 million. Australia’s economy grew 1.3 percent in the first quarter, more than twice the 0.6 percent pace f...

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