MARKET CLOSE NZX 50 rises to 3-month high on earnings; Freightways gains

Mon, 13 Aug 2012

Aug. 13 (BusinessDesk) - New Zealand shares rose, pushing the NZX 50 Index to the highest in more than three months, after earnings from Freightways beat estimates, stoking optimism for the corporate reporting season. Fletcher Building gained to a four-month high. The NZX 50 index climbed 17.167 points, or 0.5 percent, to 3594.96, the highest since May. 2. Within the index, 26 stocks rose, 16 fell and eight were unchanged. Turnover was $108 million. Freightways, the courier and data management group, rose 0.3 percent to $3.91 after posting a...

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