MARKET CLOSE: NZX 50 reaches record high before earnings; ANZ, Mercury, Ebos gain

Tue, 09 Aug 2016

By Jonathan Underhill Aug. 9 (BusinessDesk) - New Zealand shares rose, pushing the S&P/NZX 50 Index to a new record on optimism the lack of profit warnings running into earnings season means companies are less likely to disappoint the market. Australia & New Zealand Banking Group, Westpac Banking Corp, Mercury NZ and Ebos Group led gainers. The NZX 50 rose 14.86 points, or 0.2 percent, to 7,363.16, bringing its gain this year to more than 16 percent. Within the index, 23 stocks rose, 20 fell and eight were unchanged. Turnover was $122 mil...

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