MARKET CLOSE: NZ shares rise; MRP, Genesis, Meridian gain on dividends

Thu, 06 Nov 2014

By Suze Metherell Nov. 6 (BusinessDesk) - New Zealand shares rose, paced by Genesis Energy, Meridian Energy and MightyRiverPower as investors bet on a boost to dividend payouts by the state-controlled power companies. Xero climbed to a two-week high after acquiring a US payroll business. The NZX 50 Index rose 1.456 points, or 0.03 percent, to 5403.61. Within the index, 27 stocks rose, 15 fell and eight were unchanged. Turnover was $119 million. Investors bought government controlled power generators and retailers on speculation they...

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