MARKET CLOSE: NZ shares rise as EU pledge stokes risk sentiment: Fletcher, Telecom gain

Mon, 02 Jul 2012

July 2 (BusinessDesk) - New Zealand shares rose, joining a global rally in equity markets after European leaders agreed to use their rescue funds to aid the region’s lenders. Telecom and Fletcher Building paced the advance. The NZX 50 Index rose 40.32 points, or 1.2 percent, to 3440.16. Within the index, 31 stocks rose, nine fell and 10 were unchanged. Turnover was a lower-than-average $77.8 million. The local bourse rose after the Standard & Poor’s 500 Index climbed 2.5 percent in New York on Friday while Germany’s DAX 30 gained 4.3 percent...

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