MARKET CLOSE: NZ shares rise as Fonterra farmers approve TAF

Mon, 25 Jun 2012

By Hannah Lynch June 25 (BusinessDesk) - New Zealand shares rose led by Heartland and the NZX, after Fonterra Cooperative Group’s farmers confirmed the creation of tradable securities linked to dairy co-operative. The NZX 50 index rose 1.92 points, or 0.5 percent, to 3401.12. Within the index, 21 stocks rose, 20 fell and 9 were unchanged. Turnover was about $69 million. Farmers split their vote, saying yes to the Trading Among Shareholders scheme, with 66.45 percent approval, but missing the 75 percent approval required for constitutional c...

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