MARKET CLOSE: NZ shares resume rally led by MRP; Kathmandu tumbles

Mon, 02 Feb 2015

By Jonathan Underhill Feb. 2 (BusinessDesk) - New Zealand shares rose, heading back toward a record high after a two-day slide, as investors regained their appetite for companies offering relatively attractive, dependable dividend yields, such as MightyRiverPower and Spark New Zealand. Kathmandu tumbled after announcing a first-half loss. The NZX 50 Index rose 12.692 points, or 0.2 percent, to 5756.687. Within the index, 25 stocks rose, 14 fell and 11 were unchanged. Turnover was $106 million. MightyRiverPower rose about 3 percent to $...

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