MARKET CLOSE NZ shares rise, paced by Fletcher, Cavalier after home sales rise

Thu, 09 Aug 2012

By Hannah Lynch Aug. 9 (BusinessDesk) - New Zealand shares rose, paced by construction firm Fletcher Building and carpet maker Cavalier after figures showed property values and homes sales jumped last month. The NZX 50 Index rose 1.8 points, or 0.1 percent, to 3583.64. Within the index, 27 stocks rose, 15 fell and 8 were unchanged. Turnover was $134 million. The NZX 50 is near a three-month high ahead of earnings season. New Zealand’s listed companies will lift normalised profit by a median 7 percent, based on Forsyth Barr’s forecasts for 4...

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