MARKET CLOSE NZ shares rise for fifth session; Skellerup, Cavalier lead

Fri, 11 Jan 2013

Jan. 11 (BusinessDesk) – New Zealand shares rose for a fifth straight session, as the local market continued to bask in its status as relatively high yielding in an economy that’s growing modestly. Skellerup Holdings and Cavalier led gainers and Fletcher Building reached a 19-month high. The NZX 50 rose 12.67 points, or 0.3 percent, to 4131.754, a new five-year high. Within the index, 31 stocks rose, 12 fell and seven were unchanged. Turnover was $90.9 million. Skellerup, a manufacturer of milking equipment and rubber goods, rose 1.9 percent...

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