MARKET CLOSE: NZ shares rise; Infratil, Heartland gain on earnings growth

Wed, 18 May 2016

By Jonathan Underhill May 18 (BusinessDesk) - New Zealand shares rose, pushing the S&P/NZX 50 Index to a new record after Infratil posted a gain in full-year earnings and said it has a $1 billion war chest to make acquisitions. Heartland New Zealand advanced after reporting a gain in profit while Steel & Tube dropped after cutting its guidance. The NZX 50 rose 7.77 points, or 0.1 percent, to 6982.64. Within the index, 24 stocks gained, 20 fell and six were unchanged. Turnover was $185 million. Infratil rose 2 percent to $3.375 after th...

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