MARKET CLOSE: NZ shares snap 5 day slide; property rises

Thu, 22 May 2014

By Suze Metherell May. 22 (BusinessDesk) - New Zealand shares rose after a five day slide gave investors confidence to buy companies offering dependable returns such as Argosy Property, Precinct Properties New Zealand, Goodman Property Trust and Kiwi Income Property Trust. The NZX 50 Index rose 20.267 points, or 0.4 percent, to 5128.840. Within the index, 28 shares rose, 13 fell and nine were unchanged. Turnover was $143 million. Volatility in US markets in recent months, particularly in high growth and tech stocks where investors have...

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