MARKET CLOSE: NZ shares as investors regain confidence in utilities

MARKET CLOSE: NZ shares as investors regain confidence in utilities
Paul McBeth
New Zealand shares continued their march in uncharted territory as utilities such as Contact Energy and Meridian recovered some investor support. The S&P/NZX 50 Index rose 61.19 points, or 0.5 percent, to 11,737.86. Within the index, 23 stocks rose, 18 fell, and nine were unchanged. Turnover was $158.3 million. New Zealand, Australian, and Vietnamese stock markets were the strongest across Asia as investors digested the impact of the formal signing of the first tranche of a US-China trade deal. Local exporters were among the day’s gain...

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