MARKET CLOSE: NZ shares rise as Fletcher Building extends gains on quake; Tower drops

Tue, 15 Nov 2016

By Sophie Boot Nov. 15 (BusinessDesk) - New Zealand shares advanced for a second day, with Fletcher Building extending its gain as fallout from Monday morning's 7.5 magnitude Kaikoura earthquake continues. Insurer Tower posted the biggest decline for another day. The S&P/NZX 50 Index rose 32.66 points, or 0.5 percent, to 6,770.42. Within the index, 27 stocks rose, 14 fell and 10 were unchanged. Turnover was $159.8 million. This week's quake is expected to provide more work for construction companies, though insurers will face a jump...

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