MARKET CLOSE: NZ stocks edge higher; Xero gains on sales; Telecom, NZX, AIA rise

Mon, 16 Jun 2014

By Suze Metherell June 16 (BusinessDesk) - New Zealand shares edged higher as growing violence in Iraq kept markets nervous and as local investors mulled a spate of new initial public offerings. Xero paced the gains after it said annualised sales eclipsed $100 million. The NZX 50 Index rose 8.292 points, or 0.2 percent, to 5178.8. Within the index, 28 shares rose, 13 fell and nine were unchanged. Turnover was a smaller-than-usual $94.9 million. Stocks across Asia were mixed as increasing violence in Iraq, where Prime Minister Nouri al-...

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