MARKET CLOSE: NZX 50 rises to a record, Genesis, PFI gain, Xero falls

Fri, 27 Feb 2015

By Suze Metherell Feb. 27 (BusinessDesk) - New Zealand shares rose paced by Genesis Energy and Property For Industry, on good sentiment around the local economy and demand for dividend paying stocks. Xero fell as investors took the chance to crystalise profits from its recent surge. The NZX 50 Index rose 16.79 points, or 0.3 percent, to a fresh record of 5878.472. Within the index, 30 stocks rose, 12 fell and eight were unchanged. Turnover was $192 million. The local bourse has been pushed higher by demand for income paying stocks, l...

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