MARKET CLOSE: NZ stocks advance on yield demand; Spark, Genesis, Kiwi Property gain

Fri, 16 Oct 2015

By Suze Metherell Oct. 16 (BusinessDesk) - New Zealand shares rose as investors looking for yield pushed equities higher. Spark New Zealand, Genesis Energy and Kiwi Property Group advanced. The S&P/NZX 50 Index rose 44.3 points, or 0.8 percent, to 5820.01. Within the index, 35 stocks rose, seven fell and six were unchanged. Turnover was $170 million. Weaker than expected US retail sales and producer inflation data have fueled speculation the US Federal Reserve will keep rates at zero for the rest of the year. The prospect of lower ra...

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