MARKET CLOSE: NZ shares up 0.5%, weak kiwi puts exporters in focus

Fri, 17 Jul 2015

By Paul McBeth July 17 (BusinessDesk) - New Zealand shares rose, led by Steel & Tube Holdings after the steel products distributor announced a $32 million acquisition. The prospect of lower interest interest rates and improved export earnings because of the weaker kiwi dollar continue to buoy stocks that pay regular dividends. The S&P/NZX 50 index advanced 29.62 points, or 0.5 percent, to 5853.77, the highest level in a month. Within the index, 34 stocks gained, nine declined, and seven were unchanged. Turnover was $159 million. Steel...

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