MARKET CLOSE: NZ shares rise as investors chase yield; Spark, property trust gain

Wed, 01 Oct 2014

By Suze Metherell Oct. 1 (BusinessDesk) - New Zealand stocks rose, paced by Spark New Zealand as investors were lured to the local bourse's relatively high yields. Infratil rose as it sealed the sale of its Australian energy assets and signalled a capital return. Genesis Energy fell as it shed rights to its dividend. The NZX 50 Index rose 19.546 points, or 0.4 percent, to 5274.583. Within the index, 29 stocks rose, 14 fell and seven were unchanged. Turnover was $107.7 million. Over the past quarter the benchmark index has gained some...

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