MARKET CLOSE: NZX50 rises to record as Freightways, Mainfreight buoyed by cheap oil

Tue, 13 Jan 2015

By Suze Metherell Jan. 13 (BusinessDesk) - The NZX 50 Index rose to a record, led by Freightways and paced by Mainfreight, as falling oil prices look set to cut costs for the courier and logistics companies. Metlifecare and Summerset Group Holdings advanced. The benchmark index rose 26.804 points, or 0.5 percent, to a fresh record of 5636.606. Within the index, 28 stocks rose, 12 fell and 10 were unchanged. Turnover was $70 million. Oil prices fell to a five-and-a-half year low, stoking demand for companies likely to benefit from the c...

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