MARKET CLOSE: NZ shares rise as investors hunt yield; Tower, Meridian gain

Wed, 03 Sep 2014

By Suze Metherell Sept. 3 (BusinessDesk) - New Zealand shares rose, paced by Meridian Energy and Tower, as investors sought out higher yields amid rising political uncertainty ahead of this month's general election. The NZX 50 Index rose 2.623 points, or 0.05 percent, to 5224.396. Within the index, 21 stocks rose, 16 fell and 13 were unchanged. Turnover was $161.5 million. The market was lifted by demand for high-dividend yielding stocks amid heightened uncertainty over the outcome of the Sept. 20 general election after a Roy Morgan op...

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