MARKET CLOSE: NZ shares rise as investors chase yield; Genesis, property trusts gain

Thu, 09 Oct 2014

By Suze Metherell Oct. 9 (BusinessDesk) - New Zealand stocks rose as investors were lured to high yielding stocks, such as Genesis Energy and Meridian Energy, as interest rates look to set to stay low in the US. Xero fell after an update on its US expansion plans disappointed traders. The NZX 50 Index rose 20.136 points, or 0.4 percent, to 5266.037. Within the index, 26 stocks rose, 18 fell and six were unchanged. Turnover was $133.8 million. Investors pulled back their bets on an early start to higher US interest rates after the Feder...

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