MARKET CLOSE: NZ shares rise on yield hunt; Genesis, MRP, Meridian

Fri, 28 Aug 2015

By Suze Metherell Aug. 28 (BusinessDesk) - New Zealand shares rose as investors sought dividend-paying equities in a low interest rate environment. Electricity companies Genesis Energy, Mighty River Power and Meridian Energy advanced. The S&P/NZX 50 Index rose 35.54 points, or 0.6 percent, to 5670.48. Within the index, 30 stocks rose, 14 fell and six were unchanged. Turnover was $193 million. The benchmark ended the week 1.4 percent lower, after a volatile week that saw the index record its biggest one day drop in four years as offsh...

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