MARKET CLOSE NZ shares rise; Fletcher climbs on earnings optimism, Kathmandu up

Thu, 14 Feb 2013

Feb. 14 (BusinessDesk) – New Zealand shares rose as early signs the earnings season is tracking ok lifted shares such as Fletcher Building. Pumpkin Patch led retailers exposed to the Australian market. The NZX 50 Index rose 17.80 points, or 0.4 percent, to 4239.19. Within the index, 29 stocks rose, 10 fell and 11 were unchanged. Turnover was a stronger-than-average $157 million. “There’s cash finding its way from term deposits and bonds back into equity markets,” said Shane Solly, portfolio manager at Mint Asset Management. “At this early st...

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