MARKET CLOSE: NZ shares rise to record as investors hunt yield, led by Pacific Edge

Wed, 27 Aug 2014

By Suze Metherell Aug. 27 (BusinessDesk) - New Zealand shares rose to a record as Pacific Edge won a contract with US healthcare provider Kaiser Permanente and Genesis Energy posted earnings that beat its prospectus adding to the appeal of a market that's luring investors in search of yield. The NZX 50 Index rose 48.070 points, or 0.9 percent, to a record 5243.7, following on from Wall Street's S&P 500 Index closing above the 2,000 mark for the first time. Within the index, 29 stocks rose, 12 fell and nine were unchanged. Turnover was $98...

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