MARKET CLOSE: NZ shares rise led by Xero, Spark; property stocks advance on rate cut prospect

Wed, 09 Dec 2015

By Sophie Boot Dec. 9 (BusinessDesk) - New Zealand shares rose, led by Xero and Spark New Zealand, while the prospect of an interest rate cut tomorrow stoked demand for property-related stocks, which are typically held for their reliable dividends. The S&P/NZX 50 Index gained 18.55 points, or 0.3 percent, to 6053.55. Within the index, 23 stocks rose, 17 fell and 10 were unchanged. Turnover was $211.8 million. Xero led the market higher, rising 2.3 percent to $18.74. The volatile stock had been on a downward streak from a seven-month h...

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