MARKET CLOSE NZ shares rise in absence of US budget impasse progress

Wed, 02 Oct 2013

Oct. 2 (BusinessDesk) – New Zealand shares rallied along with other regional bourses, as equity investors appeared to shrug off the US federal budget impasse for want of new information. The NZX 50 Index rose 24.998 points, or 0.5 percent, to 4,768.870. Within the index, 26 stocks rose, 15 fell, and nine were unchanged. Turnover was $98 million. In a day short on corporate news, the two biggest events were Fonterra’s acknowledgement that it is in talks with French food giant Danone over damages it claims were caused by the New Zealand dairy e...

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