MARKET CLOSE NZX 50 reaches new record on ‘safe-haven’ appeal; MRP, Contact gain

Wed, 19 Mar 2014

By Suze Metherell March 19 (BusinessDesk) – New Zealand’s NZX 50 Index rose to a record as economic growth, the prospect of political stability and distance from geo-political tensions in Europe lured investors. MightyRiverPower, Meridian Energy and Contact Energy rose. The NZX 50 rose 19.051 points, or about 0.4 percent, to a record 5154.715. Within the index, 26 stocks rose, 15 fell and nine were unchanged. Turnover was $135 million. Russia cemented its claim to Ukraine’s breakaway peninsula Crimea as Western countries warned of sanction...

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