MARKET CLOSE: NZ shares up, Tegel and Sky TV gain while Air NZ falls

Thu, 26 Jan 2017

By Sophie Boot Jan. 26 (BusinessDesk) - New Zealand shares gained, led by Tegel Group Holdings, Sky Network Television, while Air New Zealand dropped back amidst analyst downgrades. The S&P/NZX50 Index rose 22.41 points, or 0.3 percent, to 7,114.32. Within the index, 27 stocks rose, 11 fell and 12 were unchanged. Turnover was $105 million. Tegel led the index, up 3 percent to $1.38, after gaining 3.1 percent yesterday. The shares hit a record low of $1.29 in mid-December after the company said it would miss its forecast earnings as a...

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