MARKET CLOSE NZ shares rise as Meridian’s gains add to confidence; Telecom up

Wed, 30 Oct 2013

Oct. 30 (BusinessDesk) – New Zealand shares rose as Meridian Energy extended gains on its second day of trading, helping lift sentiment in a market with fewer calls on its cash. Telecom, Fletcher Building and Sky Network Television advanced. The NZX 50 Index rose 15.486 points, or 0.3 percent, to 4868.08. Within the index, 27 stocks rose, 16 fell and seven were unchanged. Turnover was a higher than average $176 million. Meridian, sold by the government in New Zealand’s biggest initial public offering, rose 1.9 percent to $1.10, bringing its...

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