MARKET CLOSE NZ shares rise on broad based rally, Xero, Telecom, property stocks gain

Thu, 10 Apr 2014

By Suze Metherell April 10 (BusinessDesk) – New Zealand stocks rose in a broad-based rally. Xero extended its gains, leading the benchmark index higher, while investors also returned to companies offering reasonable dividends, such as Telecom and property trusts. The NZX 50 Index rose 48.082 points, or 0.9 percent, to 5115.489. Within the index, 31 stocks rose, nine fell and 10 were unchanged. Turnover was $137 million. New Zealand tech stocks were sold off sharply earlier this week following declines in the tech-heavy Nasdaq Composite In...

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