MARKET CLOSE NZX 50 breaks through 3700 for first time since February 2008

Fri, 07 Sep 2012

Sept. 7 (BusinessDesk) - New Zealand shares rose, pushing the NZX 50 Index above 3700 for the first time since February 2008 as offshore investors were drawn to the relatively high dividend yields and defensive nature of the nation’s listed companies. Trade Me gained as it stock was welcomed into the S&P/ASX 300 index. The NZX 50 rose 28.64 points, or 0.8 percent, to 3722.18. Within the index, 31 stocks rose, 10 fell and nine were unchanged. Turnover was a higher-than-average $173.7 million. Trade Me, the auction site that Fairfax Media sold...

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