MARKET CLOSE NZ shares rise as Xero cracks $5 bln value, Wynyard extends rally

Thu, 09 Jan 2014

Jan. 9 (BusinessDesk) – New Zealand shares rose, led by Xero on optimism more investors will focus on the cloud-based accounting firm’s growth potential. Wynyard Group, another high-growth tech company, surged to a new record. The NZX 50 Index rose 35.070 points, or 0.7 percent, to 4814.874. Within the index, 21 stocks rose, 20 fell and nine were unchanged. Turnover was $95 million. Xero, the top-performing stock on the NZX 50 last year, gained 7.4 percent to $39.25, pushing its market capitalisation above $5 billion. The stock is up 13 perc...

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