MARKET CLOSE NZ shares rise to new 5-year high; Fletcher, Steel and Tube gain

Thu, 10 Jan 2013

Jan. 10 (BusinessDesk) – New Zealand shares rose, pushing the NZX 50 Index to a new five-year high, as expectations of a pickup in building activity lifted companies such as Fletcher Building, Steel & Tube Holdings and Cavalier. PGG Wrightson rose to a 17-month high. The NZX 50 rose 15.54 points, or 0.4 percent, to 4119.08, the highest since November 2008. Within the index, 27 stocks rose, 19 fell and four were unchanged. Turnover was $103.8 million. Fletcher Building, the biggest company on the exchange, gained 2.6 percent to $8.67, the hig...

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