MARKET CLOSE: NZX 50 at record; MRP, Spark gain amid hunger for yield

Tue, 11 Nov 2014

By Suze Metherell Nov. 11 (BusinessDesk) - New Zealand shares rose to a record, led by MightyRiverPower and Spark New Zealand, as investors sought dividend paying equities in a low interest rate environment. Infratil advanced to a seven-year high as it signalled a capital return. The NZX 50 Index rose 20.452 points, or 0.4 percent, to 5490.791. Within the index, 20 stocks rose, 21 fell and nine were unchanged. Turnover was $141 million. The benchmark index has gained 5.1 percent over the past month, fuelled by stocks offering a higher...

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