MARKET CLOSE NZ shares rise as Sky TV earnings surprise, paced by Telecom

Mon, 24 Feb 2014

By Suze Metherell Feb. 24 (BusinessDesk) – New Zealand stocks rose, led by Sky Network Television, after the nation’s pay-TV operator posted earnings that beat estimates. Telecom rebounded from a selloff on Friday when it posted a modest gain in earnings and announced a rebranding strategy. The NZX 50 Index rose 42.005 points, or about 0.9 percent, to 4969.645. Within the index 21 stocks rose, 19 fell and 10 were unchanged. Turnover was a larger-than-average $179 million and included about $47 million of Telecom stock. Sky TV jumped 5.7 pe...

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