MARKET CLOSE NZ shares rise as Fed under-delivers; Telecom, Fletcher, Ebos gain

Thu, 19 Dec 2013

Dec. 19 (BusinessDesk) – New Zealand shares rose, with the NZX 50 Index clawing back most of yesterday’s selloff, after the Federal Reserve announced a smaller than expected reduction in stimulus and figures showed economic growth that beat estimates. Telecom, Fletcher Building and Ebos Group paced the gains. The NZX 50 gained 31.182 points, or 0.7 percent, to 4707.060. Within the index, 26 stocks rose, 16 fell and eight were unchanged. Turnover was a lower-than-average $93.5 million. Stocks on Wall Street rallied and the gains continued acr...

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