MARKET CLOSE: NZ shares extend gains; Metlifecare knocks back takeover bid

Thu, 19 Dec 2019

New Zealand shares extended their gains in what’s shaping up to a record year, with Metlifecare gaining after knocking back a takeover bid at considered too low. The S&P/NZX 50 Index advanced 151.05 points, or 1.3 percent, to a record 11,480.61. Within the index, 37 stocks rose, 10 fell and three were unchanged. Turnover was $170.5 million. Metlifecare increased 2 percent to $6.12 on a volume of 606,000 shares, more than twice its 90-day average of 258,000. The retirement village operator said its suitor lobbed in an indicative takeover b...

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