MARKET CLOSE: NZ shares gain as Liberal win in Australia boosts bank stocks

Mon, 20 May 2019

By Paul McBeth May 20 (BusinessDesk) - New Zealand shares rose as Australian bank stocks were buoyed by the Liberal-National coalition's electoral win over the weekend, removing the threat of tax changes. The S&P/NZX 50 Index increased 53.35 points, or 0.5 percent, to 10,234.15. Within the index, 28 stocks rose, 16 fell, and six were unchanged. Turnover was light at $77.2 million, with just three stocks trading on volumes of more than a million shares. Dual-listed banks led the market higher, with Westpac Baking Corp up 9.1 percent at...

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