MARKET CLOSE: NZ shares rise as Spark's yield attracts; Kathmandu snaps 5-day rally

Thu, 11 Aug 2016

By Jonathan Underhill Aug. 11 (BusinessDesk) - New Zealand shares rose after the Reserve Bank cut interest rates, underlining the yield from companies such as Spark NZ, while Kathmandu fell, snapping a five-day rally that had pushed the retailer to a 19-month high. The NZX 50 Index rose 4.21 points, or 0.1 percent, to 7353.82. Within the index, 21 stocks rose, 21 fell and nine were unchanged. Turnover was $129 million. Spark rose 2.8 percent to $3.84 and has gained 36 percent in the past 12 months, outpacing a 26 percent gain in the N...

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