MARKET CLOSE: NZ shares resume rally on appeal of yields; Xero, Kathmandu, Rakon gain

Mon, 04 Apr 2016

By Jonathan Underhill April 4 (BusinessDesk) - New Zealand shares rose, resuming a rally that pushed the S&P/NZX 50 Index to a new record last week, as low interest rates continued to draw investors to the equity market in search of higher yields. Xero, Kathmandu, Fletcher Building and Rakon rose, while Spark New Zealand fell. The NZX 50 gained 35.58 points, or 0.5 percent, to 6,743.6. Within the index, 31 stocks rose, 12 fell and seven were unchanged. Turnover was about $107 million. The benchmark index fell 0.7 percent on Friday, Apr...

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