MARKET CLOSE: NZ shares rise after Meridian, Fletcher earnings

Wed, 19 Aug 2015

By Suze Metherell Aug. 19 (BusinessDesk) - New Zealand shares rose as Meridian Energy, Fletcher Building and Precinct Properties New Zealand advanced on positive financial results. The S&P/NZX 50 Index rose 39.25 points, 0.7 percent, to 5750.02. Within the index, 22 stocks rose, 19 fell and nine were unchanged. Turnover was $140 million. Meridian gained 2.7 percent to $2.25. The country's biggest electricity generator lifted annual earnings 5.6 percent to $585 million, beating its prospectus forecast, and plans to pay a second specia...

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