MARKET CLOSE: NZ shares rise on earnings optimism; Warehouse, Skellerup gain

Thu, 19 Jul 2012

By Hannah Lynch July 19 (BusinessDesk) - New Zealand shares rose on optimism the looming earning season may be brighter than feared. Companies ranging from retailer Warehouse Group to manufacturer Skellerup paced the advance. The NZX 50 Index rose 11.72 points, or 0.3 percent, to 3485.77. Within the index, 23 stocks rose, 12 fell and 15 were unchanged. Turnover was $92 million. "I don't think earnings season is going to disappoint - we are slowly grinding to a better story," Rickey Ward, domestic equities manager at Tyndall Investment Mana...

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