MARKET CLOSE NZ shares rise, Fletcher, Steel and Tube gain on investors seeking recovery exposure

Thu, 27 Mar 2014

By Suze Metherell March 27 (BusinessDesk) – New Zealand stocks rose as investors sought exposure to New Zealand’s economic growth, fuelled by a record high trade surplus for February and strong business confidence. Port of Tauranga, Fletcher Building and Steel & Tube paced the day’s gainers. The NZX 50 Index rose 1.645 points, or 0.03 percent, to 5126.533. Within the index, 22 stocks rose, 20 fell and eight were unchanged. Turnover was $115.9 million. Fletcher, New Zealand’s largest listed company, rose 1.6 percent to $9.57. Steel & Tube c...

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