MARKET CLOSE: NZ shares rebound as yield hunt returns, SkyCity, Merdian gain

Mon, 20 Oct 2014

By Suze Metherell Oct. 20 (BusinessDesk) - New Zealand shares rebounded from last week's drop, led by SkyCity Entertainment Group and Meridian Energy, as investors hunted reliable income in a volatile market. Xero extended its decline, dropping to a 16 month low. The NZX 50 Index rose 50.944 points, or 1 percent, to 5197.886. Within the index, 36 stocks rose, 11 fell and three were unchanged. Turnover was $111 million. The local bourse followed Wall Street's Friday recovery, after a period of volatility which saw the CBOE VIX Index, al...

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