MARKET CLOSE: NZ shares rise to another record, led by NZ Refining and Fonterra

Mon, 01 Aug 2016

By Sophie Boot Aug. 1 (BusinessDesk) - New Zealand shares rose to a fresh record with New Zealand Refining Co and Fonterra Shareholders Fund gaining after the latter maintained its milk payout forecast. The S&P/NZX 50 Index gained 8.5 points, or 0.1 percent, to 7,356.63. Within the index, 28 stocks rose, 17 fell and six were unchanged. Turnover was $172.3 million, a strong figure for a Monday. Rickey Ward, New Zealand equity manager at JBWere, said the market had seen 6.5 percent growth in July and investors were positive ahead of th...

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