MARKET CLOSE: NZ shares rise as Contact gains on $100 mln buyback; Trade Me advances after AGM

Thu, 15 Oct 2015

By Suze Metherell Oct. 15 (BusinessDesk) - New Zealand shares rose as Contact Energy $100 million capital return through a share buyback stoked investor demand for the electricity generator and retailer. Trade Me Group, Auckland International Airport and Air New Zealand gained. The S&P/NZX 50 Index advanced 48.57 points, or 0.9 precent, to 5775.7. Within the index, 31 stocks rose, 13 fell and six were unchanged. Turnover was $162.6 million. Contact, whose former cornerstone investor Origin Energy sold out in August, climbed 3.5 perce...

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