MARKET CLOSE: NZ shares rise, NZX gains on IPOs, Fletcher, Summerset advance

Fri, 04 Jul 2014

By Suze Metherell July 4 (BusinessDesk) - New Zealand shares rose as investors mulled the latest in a series of initial public offerings. NZX paced gains on the promise of a growing capital market. Xero, Mainfreight and Fletcher Building rose. The NZX 50 Index rose 21.511 points, or 0.4 percent, to 5188.905. Within the index, 27 stocks rose, 12 fell and 11 were unchanged. Turnover was $90 million, a quieter day ahead of the Independence Day holiday in the US. The New Zealand market lagged gains across the Asia Pacific, as Japan's Nikke...

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