MARKET CLOSE: NZ stocks rise; Meridian, MRP up ahead of Tiwai Pt decision

Fri, 31 Jul 2015

By Fiona Rotherham July 31 (BusinessDesk) - New Zealand shares rose. Meridian Energy and MightyRiverPower gained ahead of a decision on the future of the Tiwai Point aluminium smelter and as investors sought companies with relatively strong dividend yields. The S&P/NZX 50 index rose 29.1 points, or 0.5 percent, to 5,920.95. Within the index, 26 stock rose, 15 fell and 9 were unchanged. Turnover was $121 million. Meridian was up 3 percent to $2.25 ahead of Rio Tinto-owned New Zealand Aluminium Smelter making a delayed decision on Monday...

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