MARKET CLOSE: NZ shares rise on Reserve Bank hikes, Telecom, Air NZ, Trade Me gain

Thu, 12 Jun 2014

By Suze Metherell June 12 (BusinessDesk) - New Zealand stocks rose after the Reserve Bank lifted the official cash rate, adding support to evidence for strong economic growth. Telecom, Air New Zealand and Trade Me Group paced the gain. The NZX 50 Index advanced 15.961 points, or 0.3 percent, to 5195.11. Within the index, 21 stocks rose, 15 fell and 14 were unchanged. Turnover was $163.2 million. Central bank governor Graeme Wheeler hiked the OCR a quarter-point to 3.25 percent, his third 25 basis points increase since he began his ti...

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