MARKET CLOSE: NZX50 at record, stocks like Trustpower, Mercury bolstered by softer CPI

Tue, 18 Jul 2017

By Sophie Boot July 18 (BusinessDesk) - New Zealand shares hit a record as weaker CPI numbers bolstered shares, with dividend stocks like Mercury New Zealand and Trustpower benefiting. The S&P/NZX50 Index gained 7.76 points, or 1 percent, to 7,707.33. Within the index, 28 stocks rose, 15 fell and seven were unchanged. Turnover was $128.5 million. This morning, Statistics New Zealand surprised the market when it reported that consumer prices were unchanged in the second quarter while annual inflation was 1.7 percent. Expectations the c...

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