MARKET CLOSE: NZ shares rise; Sky TV, Fletcher Building gain, Air NZ drops on oil recovery

Thu, 28 Apr 2016

By Sophie Boot April 28 (BusinessDesk) - New Zealand shares rose as low interest rates continued to underpin demand for yields on stocks. Sky Network Television and Fletcher Building gained while Air New Zealand dropped on concern a recovery in oil prices will drive up fuel costs. The S&P/NZX50 Index gained 39.58 points, or 0.6 percent, to 6,789.98. Within the index, 28 stocks advanced, 17 fell and four were unchanged. Turnover was $135.9 million. The market traded lower at the end of last week and through this week, before the Reserve...

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