MARKET CLOSE: NZ stocks rise; Chorus gains to 4-week high; Telecom snaps 4 day decline

Thu, 31 Jul 2014

By Suze Metherell July 31 (BusinessDesk) - New Zealand shares rose as Chorus gained to a four-week high on speculation it won't need to ask investors for more capital to fund its fibre network build, and Telecom Corp led the index higher, after tumbling after an analyst put a sell rating on the company. The NZX 50 Index rose 9.437 points, or 0.2 percent, to 5167.989. Within the index, 24 stocks rose, 17 fell and nine were unchanged. Turnover was $197.5 million. Chorus, the network provider, advanced 2 percent to $1.75. Earlier this mo...

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