MARKET CLOSE:NZ shares gain on blue-chip appeal as ikeGPS debut fizzles

Wed, 23 Jul 2014

By Suze Metherell July 23 (BusinessDesk) - New Zealand shares gained, led by blue-chip stocks such as Sky Network Television, after the latest high-tech initial public offer fizzled with shares of ikeGPS sinking below its sale price. The NZX 50 Index rose 12.664 points, or 0.2 percent, to 5146.53. Within the index, 17 stocks rose, 24 fell and nine were unchanged. Turnover was $112.2 million. The local bourse is experiencing a flurry of listings, many of which are tech companies and spoiling investors for choice as they mull the high va...

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