MARKET CLOSE: NZ shares rise on outlook for low interest rates; Air NZ, Metlife, Ryman gain

Tue, 05 Jul 2016

By Jonathan Underhill July 5 (BusinessDesk) - New Zealand shares rose as the prospects of interest rates staying low drew investors to the equity market in search of better returns. Air New Zealand, Metlifecare and Ryman Healthcare gained. The S&P/NZX 50 Index rose 30.04 points, or 0.4 percent, to 6970.99, an all-time high. Within the index, 31 stocks gained, 14 fell and five were unchanged. Turnover was a relatively modest $109 million, with no tailwind from US markets closed for Independence Day on Monday. The yield on 10-year govern...

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