Fletcher dodges product recall in upbeat end to August for NZX 50

Fletcher dodges product recall in upbeat end to August for NZX 50
Partial resolution of its leaky pipes issue gave Fletcher Building shares a boost. (Image: Mark Mitchell)
Paul McBeth
Fletcher Building shares rallied after avoiding a product recall over a leaky pipes issue in Western Australia, leading the benchmark stock index higher. The S&P/NZX 50 Index rose 97.07 points, or 0.8%, to 12,447.68. Across the main board, 85 stocks gained, 46 fell and 48 were unchanged. Turnover was $318.2 million, with heavier trading due to the quarterly rebalancing of MSCI equities indices. The benchmark index advanced 0.3% in August, getting a boost when the Reserve Bank cut its key interest rate earlier than some analysts ha...

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