MARKET CLOSE NZ shares rise as dividend yields keeps market bid

Fri, 09 Nov 2012

Nov. 9 (BusinessDesk) – New Zealand shares rose. Telecom rose as the nation’s relatively high dividend yields drew investors while Infratil fell after taking a charge against its UK airport investments. The NZX 50 fell 2.66 points, or 0.1 percent, to 3957.91. Within the index, 22 stocks rose, 16 fell and 12 were unchanged. Turnover was a lower-than-average $70.6 million. “Savers are being penalized,” said David Price, a broker at Forsyth Barr. “People are being forced off the sidelines and into high risk investments than normally. It’s a glo...

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