MARKET CLOSE NZ shares rise; MightyRiverPower up 4.8 percent from IPO; Tower gains

Fri, 10 May 2013

May 10 (BusinessDesk) – New Zealand shares extended this year’s 14 percent gain on the NZX 50 Index, with Tower leading the advance after completing an asset selldown. Fletcher Building, the biggest company on the index, paced gainers and MightyRiverPower rose on its debut. The NZX 50 Index rose 13.44 points, or 0.3 percent, to 4652.77. Within the index, 21 stocks rose, 16 fell and 13 were unchanged. Turnover was $142 million. Turnover was overshadowed by trading in MRP, valued at $167 million, or 62.6 million shares changing hands. The sha...

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