MARKET CLOSE: NZ shares rise on earnings; Port of Tauranga, Fletcher Building advance

Thu, 21 Aug 2014

By Suze Metherell Aug. 21 (BusinessDesk) - New Zealand shares rose for a third day as reporting season gave investors confidence in the local bourse. Port of Tauranga and Fletcher Building, which both beat expectations, paced the advance. Genesis Energy led power companies lower on concern the election could bring in a government intent on regulating prices. The NZX 50 Index rose 12.577 points, or 0.2 percent, to 5152.915. Within the index, 27 stocks rose, 16 fell and seven were unchanged. Turnover was $124 million. Local earnings sea...

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