MARKET CLOSE: NZ shares rise; NZ Oil & Gas up on Kupe, Fletcher drops on Boral

Wed, 27 Jun 2012

June 27 (BusinessDesk) - New Zealand shares rose as NZ Oil & Gas announced a likely upgrade to reserves in the Kupe field while Fletcher Building dropped after Australian rival Boral cuts its guidance for the second time in three months. The NZX 50 Index rose 6.45 points, or 0.2 percent, 3387.77. Within the index, 27 stocks rose, 17 fell and seven were unchanged. Turnover was $78.6 million. NZ Oil & Gas rose 3.9 percent to 80 cents. Kupe operator Origin Energy has provided updated data on reserves and NZ Oil & Gas said the numbers suggested...

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