MARKET CLOSE: NZ shares rise, led by Arvida as upbeat earnings buoy investors

Wed, 24 May 2017

By Rebecca Howard May 24 (BusinessDesk) - Arvida Group led the New Zealand share market higher as investors were cheered by positive earnings reports and - like much of Asia - shrugged off news Moody's Investors Service cut its sovereign credit rating on China. The S&P/NZX 50 Index rose 37 points, or 0.5 percent, to 7,421.78. Within the index, 26 stocks rose, six were unchanged and 18 fell. Turnover was $135 million. Elsewhere in Asia, Japan's Topix was up 0.5 percent while across the Tasman the S&P/ASX 200 was up 0.1 percent despite the...

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