MARKET CLOSE: NZX 50 rises to record; MRP, Meridian, Genesis gain

Wed, 21 Jan 2015

By Suze Metherell Jan. 21 (BusinessDesk) - New Zealand shares rose to a record paced by MightyRiverPower, Genesis Energy and Meridian Energy as the prospect of lower interest rates for longer lured investors to stocks with regular dividends. Fletcher Building gained. The NZX 50 Index advanced 39.636 points, or 0.7 percent, to a record close of 5672.852. Within the index, 26 stocks rose, 19 fell and five were unchanged. Turnover was $123 million. New Zealand consumer prices fell in the December quarter as a drop in international oil pri...

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