MARKET CLOSE: NZ shares rise; Telecom at month high

Mon, 14 Jul 2014

By Suze Metherell July 14 (BusinessDesk) - New Zealand stocks rose from a three-month low as investors sought out defensive options ahead of next month's reporting season and September's general election. Telecom Corp paced gains to rise to a month high. Contact Energy, Genesis Energy and Meridian Energy rose. The NZX 50 Index rose 27.273 points, or 0.5 percent, to 5127.865. Within the index, 31 stocks rose, 10 fell and nine were unchanged. Turnover was $99.5 million. The benchmark index has advanced 8 percent this year, outperforming...

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