MARKET CLOSE: NZ shares rise; Meridian, Spark, Air NZ gain

Wed, 15 Jul 2015

By Suze Metherell July 15 (BusinessDesk) - New Zealand shares rose as investors bought yield stocks such as Meridian Energy and Spark New Zealand, in anticipation of interest rates falling and as global sentiment became more upbeat. Air New Zealand led the index higher. The S&P/NZX 50 advanced 55.08 points, or 1 percent, to 5805.96. Within the index 32 stocks rose, 11 fell and seven were unchanged. Turnover was $126 million. Investors bought income paying equities, like utility companies, on the anticipation the Reserve Bank will mov...

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