MARKET CLOSE NZ stocks join global rally; Telecom, Fonterra rise

Thu, 03 Apr 2014

By Suze Metherell April 3 (BusinessDesk) – New Zealand shares snapped a three day decline, joining a global rally on positive US US job data and factory orders. Telecom led the benchmark index higher as international investors sought exposure to the kiwi market, while units in Fonterra Shareholders’ Fund rose on lower input prices. The NZX 50 Index rose 6.064 points, or 0.1 percent, to 5122.372. Within the index, 23 stocks rose, 20 fell and seven were unchanged. Turnover was $176.7 million. Asian markets followed Wall Street higher after...

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