MARKET CLOSE NZ shares rise, paced by Fletcher, Telecom, Skellerup before results

Tue, 21 Aug 2012

By Hannah Lynch Aug. 21 (BusinessDesk) - New Zealand shares rose to a 4 ½-year high, with Fletcher Building, Telecom and Skellerup Holdings gained ahead of results investors are betting will show local companies are resilient in a tepid economy. The NZX 50 Index rose 26.64 points, or 0.7 percent, to 3687.73, the highest since February 2008. Within the index, 28 stocks rose, 13 fell and 9 were unchanged. Turnover was a smaller-than-average $80.9 million. Fletcher, New Zealand largest construction company, gained 1.8 percent to $6.66. Its ful...

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