MARKET CLOSE:NZ shares gain led by Chorus; Fonterra fund rises on lower milk price

Wed, 03 Dec 2014

By Suze Metherell Dec. 3 (BusinessDesk) - New Zealand shares rose led by Chorus as investors mull the impact of the proposed regulated price on the network operator's copper lines, while Spark New Zealand extended its decline on the prospect higher costs. Fonterra Shareholders' Fund gained on falling global dairy prices. The NZX 50 Index rose 73.031 points, or 1.3 percent, to 5503.066. Within the index, 40 stocks rose, seven fell and three were unchanged. Turnover was $174 million. Chorus, which suspended dividends to mitigate against...

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