MARKET CLOSE NZ shares rise led by yield stocks; TrustPower, Contact, freight firms up

Mon, 08 Oct 2012

By Hannah Lynch Oct. 8 (BusinessDesk) - New Zealand shares rose to a fresh four and a half year high as investors were drawn to stocks with relatively appealing dividend yields. The gainers were paced by the Warehouse Group, and electricity companies TrustPower and Contact Energy. The NZX 50 Index rose 19.05 points, or 0.45 percent, to 3923.90. Within the index, 30 stocks rose, 7 fell and 13 were unchanged. Turnover was about $90 million. "We are seeing continued buying in the yield stocks as investors move money from banks to equities - in...

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