MARKET CLOSE:NZ shares snap 3 days of declines as investor hunt yield

Wed, 15 Oct 2014

By Suze Metherell Oct. 15 (BusinessDesk) - New Zealand shares snapped three days of falls as investors hunted yield in an uncertain global economy. Meridian Energy, MightyRiverPower and Kiwi Income Property Trust advanced. The NZX 50 Index rose 16.981 points, or 0.3 percent, to 5162.872. Within the index, 25 stocks rose, 21 fell and four were unchanged. Turnover was $89.8 million. Overnight Wall Street snapped its worst three day decline since 2011, fuelled by global uncertainty which saw the CBOE VIX Index, known as Wall Street's fe...

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