MARKET CLOSE: NZ stocks rise, on Xero's NYSE listing plans, Telecom climbs to 2008 highs

Thu, 24 Jul 2014

By Suze Metherell July 24 (BusinessDesk) - New Zealand shares rose, paced by Xero after the cloud-based accounting software firm said it is mulling a New York listing where shares in Facebook and Apple have rebounded. Telecom Corp rose to the highest since it spun out Chorus, as the deadline for the network provider's regulated price cuts looms. The NZX 50 Index rose 28.182 points, or 0.5 percent, to 5174.712. Within the index, 34 stocks rose, 11 fell and five were unchanged. Turnover was $111 million. Overnight on Wall Street, the t...

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