MARKET CLOSE: NZ shares rise, lead by ANZ, CBL; Fletcher Building gains despite profit plunge

Wed, 16 Aug 2017

By Sophie Boot Aug. 16 (BusinessDesk) - New Zealand shares gained, with a positive start to earnings season bolstering confidence, and Fletcher Building rising after its expected profit downgrade. The S&P/NZX50 Index rose 39.6 points, or 0.5 percent, to 7,853.34. Within the index, 30 stocks rose, 14 fell and six were unchanged. Turnover was $137 million. "The market keeps doing its thing, and really that's on the back of generally speaking some good results - or, in the case of Fletcher, not as bad as people suspected," said Grant Davi...

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