MARKET CLOSE NZ shares rise, edging back near 5-year high; Fletcher jumps

Fri, 07 Dec 2012

Dec. 7 (BusinessDesk) – New Zealand shares rose, with the NZX 50 Index nearing its 5-year high, as investors took heart in progress with Christchurch’s rebuild and a hot Auckland property market in driving Fletcher Building to the highest in 16 months. The NZX 50 rose 18.16 points, or 0.5 percent, to 4041.52. Within the index, 21 stocks rose, 21 fell and eight were unchanged. Turnover was $91 million. Fletcher, the biggest company on the NZX 50, rose 3.4 percent to $8.24, the highest close since July 22 last year. The stock picked up pace si...

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