MARKET CLOSE NZ shares rise, led by Xero, Air NZ, Trade Me

Fri, 31 Aug 2012

Aug. 31 (BusinessDesk) - New Zealand shares rose, led by Xero, Air New Zealand and Trade Me after the earnings season highlighted how many companies are managing to find growth in a tepid economy. The NZX 50 Index rose 37.11 points, or 1 percent, to 3666.68. Within the index, 34 shares rose, six fell and 10 were unchanged. Turnover was about $117 million. "We had seen the market weaken leading into the reporting season - all the stocks had to do was meet guidance and they went up, like Air New Zealand," said James Smalley, client adviser at...

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