MARKET CLOSE NZ shares rise to record; Xero tops $1 bln, Sky TV climbs

Thu, 07 Mar 2013

March 7 (BusinessDesk) – New Zealand shares rose, pushing the NZX 50 Index to the highest since it was created in 2003, as Xero’s market value exceeded $1 billion for the first time and a broad rally swept up Telecom, Sky Network Television and Diligent Board Members Services. The NZX 50 rose 35.50 points, or 0.8 percent, to 4333.48. Within the index, 26 stocks rose, 16 fell and eight were unchanged. Turnover was $209 million, continuing the run of larger-than-normal days since News Corp sold its 44 percent stake in Sky TV. Xero, the cloud-b...

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