MARKET CLOSE: NZ shares rise on the prospect of lower rates; Contact, Sky TV, MRP advance

Thu, 16 Jul 2015

By Suze Metherell July 16 (BusinessDesk) - New Zealand shares rose, buoyed by the prospect of lower interest rates making returns on equities more attractive. Income-paying stocks, such as Contact Energy and Sky Network Television, advanced. The S&P/NZX 50 Index gained 18.21 points, or 0.3 percent, to 5824.16. Within the index, 25 stocks rose, 17 fell and eight were unchanged. Turnover was $131 million. Overnight prices for whole milk powder, the country's key commodity export, dropped more than expected in the GlobalDairyTrade aucti...

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