MARKET CLOSE NZ shares rise to 4 -year high led by Tower, Telecom, Infratil

Tue, 25 Sep 2012

By Hannah Lynch Sept 25 (BusinessDesk) - New Zealand shares rose, pushing the NZX 50 Index a 4 ½-year high as offshore investors were drawn to the nation’s relatively stable earnings and high yields. Telecom, Auckland International Airport and Infratil paced the advance. DNZ Property Fund rose to a record. The NZX 50 Index rose 16.16 points, or 0.4 percent, to 3825.31, the highest level since Jan. 11, 2008. Within the index, 31 shares rose, 14 fell and 5 were unchanged. Turnover was $114 million. "It's a reflection of the fact that there we...

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