MARKET CLOSE: NZ shares rise as earnings outlook lifts Kathmandu; Tower flags costs

Fri, 20 Nov 2015

By Sophie Boot Nov. 20 (BusinessDesk) - New Zealand shares rose after Kathmandu Holdings reported first-quarter margin growth and affirmed its full-year target, while Tower fell after warning that increased costs would dent profit. The S&P/NZX 50 Index rose 13.27 points, or 0.22 percent, to 6008.52. Within the index, 18 stocks rose, 22 fell and 10 were unchanged. Turnover was $96 million. Kathmandu led the market, up 5.7 percent to $1.68. The outdoor clothing retailer, which spurned a takeover offer this year, affirmed its guidance for...

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