MARKET CLOSE: NZ shares rise as hunt for yield continues; Meridian, Contact gain

Mon, 14 Sep 2015

By Suze Metherell Sept. 14 (BusinessDesk) - New Zealand shares edged higher in a volatile global market as stocks paying relatively high dividends, such as Meridian Energy and Contact Energy, underpinned the bourse. Briscoe Group rose after it reported higher first-half earnings. The S&P/NZX 50 Index advanced 17.66 points, or 0.3 percent, to 5665.88. Within the index, 26 stocks rose, 18 fell and five were unchanged. Turnover was $113 million. New Zealand's benchmark index trades at a 6.7 percent gross dividend yield, and was underpin...

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