MARKET CLOSE NZX 50 at five-year high, OceanaGold, Kathmandu, Telecom gain

Wed, 09 Jan 2013

Jan. 9 (BusinessDesk) –New Zealand shares rose, nudging the NZX 50 to a five-year high. OceanaGold, Kathmandu and Telecom led gainers. The NZX 50 Index rose 13.17 points, or 0.3 percent, to 4103.54. Within the index, 24 stocks rose, 18 fell and eight were unchanged. Turnover was $130.8 million. The local benchmark has been rising ahead of earnings in February. Some companies have given favourable mid-quarter updates that have lifted expectations earnings won’t disappoint and dividend yields on shares like Telecom make them attractive versus f...

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