MARKET CLOSE NZ shares rise, paced by Air NZ on share buyback announcement

Fri, 28 Sep 2012

By Hannah Lynch Sept. 28 (BusinessDesk) - New Zealand shares rose, paced by Air New Zealand it said the share price doesn’t reflect the airline’s financial performance and it to commence a share buyback scheme. Telecom and Auckland International Airport led declining stocks. The NZX 50 Index rose 25.11 points, or 0.7 percent, to 3834.14. Within the index, 30 shares rose, 9 fell and 11 were unchanged. Turnover was about $116 million. Air New Zealand rose 5.4 percent to $1.16 and has gained 23 percent this year. The airline reaffirmed its out...

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