MARKET CLOSE: NZ shares rise; Spark, Meridian gain; Xero drops as FY loss widens

Fri, 24 Apr 2015

By Suze Metherell April 24 (BusinessDesk) - New Zealand shares rose, paced by Spark New Zealand and Meridian Energy, as investors sought dividend paying stocks. Xero dropped after it reported its full year loss nearly doubled. The NZX 50 Index rose 7.447 points, or 0.1 percent, to 5765.356. Within the index, 22 stocks rose, 20 fell and nine were unchanged. Turnover was $133 million. Yesterday, the Reserve Bank of New Zealand's assistant governor John McDermott said it isn't considering an increase in interest rates at present and is w...

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