MARKET CLOSE: NZ shares rise led by NZOG; Kathmandu slides to 2-year low

Mon, 22 Dec 2014

By Suze Metherell Dec. 22 (BusinessDesk) - New Zealand shares rose, led by New Zealand Oil and Gas after it bought a cornerstone stake in ASX-listed Cue Energy. Fletcher Building and Sky Network Television advanced as dual-listed stocks followed the Australian bourse higher. Kathmandu Holdings tumbled after it flagged poor sales across the Tasman, its largest market. The NZX 50 Index gained 13.989 points, or 0.3 percent, to 5541.739. Within the index, 22 stocks rose, 18 fell and 10 were unchanged. Turnover was a smaller than usual $86.2 m...

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