MARKET CLOSE NZ shares rise to new 5-year high; Air NZ jumps

Thu, 28 Feb 2013

Feb. 28 (BusinessDesk) – New Zealand shares rose to a new five-year high as investors cheered Air New Zealand’s profit growth and Fletcher Building pushed back above $9. The NZX 50 Index rose 43.68 points, or 1 percent, to 4320. Within the index, 25 stocks rose, 15 fell and 10 were unchanged. Turnover of $250 million included more than 10 million Trade Me shares. Air NZ climbed 4.1 percent to $1.40, a level it last reached in February 2011. The airline, which is 73 percent state-owned, posted first-half profit that more than doubled after l...

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