MARKET CLOSE: NZ shares rise; Spark, Contact gain; Xero falls

Thu, 30 Apr 2015

By Suze Metherell April 30 (BusinessDesk) - New Zealand shares rose from a two-month low, paced by Spark New Zealand and Contact Energy as the prospect of lower interest rates fuelled investor demand for income-paying equities. Xero extended its decline. The NZX 50 Index rose 50.52 points, or 0.9 percent, to 5791.336. Within the index, 28 stocks rose, 12 fell and 10 were unchanged. Turnover was $132 million. The central bank kept interest rates on hold at 3.5 percent this morning, and flagged it may have to lower the rate should demand...

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