MARKET CLOSE: NZ shares rise on yield demand; Spark, Fletcher, Meridian gain

Mon, 07 Sep 2015

By Suze Metherell Sept. 7 (BusinessDesk) - New Zealand shares rose on demand for dividend paying stocks ahead of what's widely expected to be an interest rate cut by the Reserve Bank this week. Spark New Zealand, Fletcher Building and Meridian Energy advanced. The S&P/NZX 50 Index rose 25.85 points, or 0.5 percent, to 5572.73. Within the index, 28 stocks rose, 17 fell and five were unchanged. Turnover was $105 million. Governor Graeme Wheeler is expected to cut the official cash rate by a quarter point to 2.75 percent with the quarte...

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