MARKET CLOSE NZX 50 sets new record; Kathmandu soars, SkyCity, Trade Me gain

Wed, 25 Sep 2013

Sept. 25 (BusinessDesk) – New Zealand shares rose, pushing the NZX 50 Index to an all-time high, as Kathmandu’s record earnings prompted analysts to lift their estimates, and investors bought companies with reliable earnings and dividends including SkyCity Entertainment Group. The NZX 50 rose 54.136 points, or 1.1 percent, to 4764.723. Within the index, 22 stocks rose, 14 fell and 14 were unchanged. Turnover was $133 million. Kathmandu, the outdoor equipment retailer, rose 8.5 percent to $3.45 a day after posting record full-year earnings an...

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