MARKET CLOSE NZ shares rise, pushing NZX 50 to month high close; Chorus gains

Fri, 05 Jul 2013

July 5 (BusinessDesk) – New Zealand shares rose, lifting the NZX 50 Index to a month high, as Chorus advanced and Xero jumped above $18. The NZX 50 Index rose 30.912 points, or 0.7 percent, to 4489.864.Within the index, 24 stocks rose, 13 fell and 13 were unchanged. Turnover was $98 million. Chorus, the network company spun off by Telecom in 2011, rose 1.9 percent to $2.63, the highest in at least a month. The stock has a dividend yield of 9.9 percent. “On the day the market is only up 0. 7 percent but it is quite broad,” said Shane Solly,...

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