MARKET CLOSE: NZX 50 rises to new record on yield hunt; MRP, Spark, Sky TV gain

Tue, 28 Oct 2014

By Suze Metherell Oct. 28 (BusinessDesk) - New Zealand shares edged up to a new record, paced by MightyRiverPower and Argosy Property, as investors bought dividend paying equities on the expectation interest rates will stay lower for longer. Guinness Peat Group dropped after updating the market about ongoing uncertainty around its UK pension obligations. The NZX 50 Index rose 4.505 points, or 0.1 percent, to 5338.331, rising to a record for the fourth consecutive day. Within the index, 25 stocks rose, 19 fell and six were unchanged. Turno...

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