MARKET CLOSE: NZ shares gain as investors chase yield in low-rate environment

Tue, 07 May 2019

By Paul McBeth May 7 (BusinessDesk) - New Zealand shares bounced back from yesterday's Donald Trump-induced slump, as the attraction of stocks paying reliable dividends remains strong in a low-interest rate environment. Meridian Energy, Chorus and Infratil were among the gainers today. The S&P/NZX 50 Index rose 66.77 points, or 0.7 percent, to 10,027.39. Within the index, 28 stocks increased, 16 fell, and six were unchanged. Turnover was $105.8 million. The local market joined an Asia-wide rout yesterday when the US president spooked...

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