MARKET CLOSE NZ shares rise, led by Telecom amid fiscal cliff optimism

Tue, 18 Dec 2012

Dec. 18 (BusinessDesk) – New Zealand shares rose, led by Telecom as equity markets worldwide took heart from signs of progress on fiscal cliff talks in Washington that may help the US economy avoid recession. Tech stocks Diligent Board member Services and Xero both made new highs. The NZX 50 Index rose 12.76 points, or 0.3 percent, to 3979.25. Within the index, 19 stocks rose, 23 fell and eight were unchanged. Turnover was $928 million, reflecting Fairfax Media’s sale of 51 percent of Trade Me. Japan’s Nikkei 225 Index led gains in stock mar...

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