MARKET CLOSE: NZ shares rise; Sky TV gains on earnings, Tower leads on capital gain

Fri, 22 Aug 2014

By Suze Metherell Aug. 22 (BusinessDesk) - New Zealand shares rose for the fourth consecutive day as reporting season gave investors confidence in the market. Sky Network Television advanced after beating analysts' expectations for annual profit. Tower rose to a year-high after the central bank lowered it minimum solvency reserve by $30 million. The NZX 50 Index rose 14.080 points, or 0.3 percent, to 5166.995. Within the index, 25 shares rose, 14 fell and 11 were unchanged. Turnover was $109 million. So far in the earnings season comp...

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