MARKET CLOSE: NZ shares rise; Steel & Tube gains, Comvita, Restaurant Brands drop

Fri, 22 Jul 2016

By Sophie Boot July 22 (BusinessDesk) - New Zealand shares rose, pushing the benchmark index to a new record as continued lower interest rates nudged investors to seek better returns from equities. Steel & Tube Holdings and Fisher & Paykel Healthcare gaining while Comvita and Restaurant Brands fell. The S&P/NZX50 Index gained 12.01 points, or 0.2 percent, to 7226.06. Within the index, 17 stocks gained, 31 fell and three were unchanged. Turnover was $108 million. "Central banks have taken interest rates to infinity and beyond, and it's...

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