MARKET CLOSE: NZ shares rise; Meridian, Genesis gain on yield appetite

Fri, 08 May 2015

By Suze Metherell May 8 (BusinessDesk) - New Zealand shares rose, paced by Meridian Energy and Contact Energy as investors’ appetite for income paying equities returned. Warehouse Group advanced after it reported an increase in third-quarter sales. The NZX 50 Index rose 6.002 points, or 0.1 percent, to 5735.355. Within the index, 21 stocks rose, 19 fell and 10 were unchanged. Turnover was $86 million. Dividend-paying stocks rose as investors considered the possibility the Reserve Bank of New Zealand may lower the official cash rate af...

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