MARKET CLOSE: NZX 50 rise to record; Xero surges on more cash; Air NZ climbs

Wed, 25 Feb 2015

By Suze Metherell Feb. 25 (BusinessDesk) - New Zealand shares rose to a record, led by Xero after it raised $147 million from two American fund managers. Air New Zealand gained as it posted savings on falling oil prices. The NZX 50 Index advanced 119.327 points, or 2.1 percent, to 5842.292. Within the index, 27 stocks rose, 12 fell, and 11 were unchanged. Turnover was $161 million. Xero jumped 26 percent to $23, paring an intraday gain to as high as $23.20, after the cloud-based accounting software firm announced Silicon Valley ventur...

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