MARKET CLOSE: NZ shares rise on yield hunt; Spark, AIA, Mainfreight gain

Tue, 08 Sep 2015

By Suze Metherell Sept. 8 (BusinessDesk) - New Zealand shares rose on demand for income-paying stocks ahead of this week's expected interest rate cut by the Reserve Bank. Spark New Zealand led stocks higher, as Auckland International Airport and Mainfreight gained. The S&P/NZX 50 Index rose 37.58 points, or 0.7 percent, to 5610.31. Within the index, 29 stocks rose, 18 fell and three were unchanged. Turnover was $152 million. Governor Graeme Wheeler is expected to cut the official cash rate by a quarter point to 2.75 percent with the qu...

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