MARKET CLOSE NZ shares rise on election clarity, MRP, Contact, Vector rise; Xero leads gainers

Wed, 23 Apr 2014

By Suze Metherell April 23 (BusinessDesk) – New Zealand stocks rose as a front bench Labour Party MP quit, stoking speculation the incumbent National-led government will return for a third term. Contact Energy, Vector and MightyRiverPower gained. Xero led the advance. The NZX 50 Index rose 37.983 points, or 0.7 percent, to 5142.922. Within the index, 30 stocks rose, 11 fell and nine were unchanged. Turnover was $104 million. Labour MP Shane Jones, who ran for the party’s leadership last year, has quit politics to take up a Pacific economic...

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