MARKET CLOSE: NZ shares gains in heavy trading on quarterly index reweighting

Fri, 21 Jun 2019

By Paul McBeth June 21 (BusinessDesk) - New Zealand shares rose in heavy trading late in the day as investors adjusted for the reweighting of several major indices. Utilities and property companies offering reliable dividends remained in vogue. The S&P/NZX 50 Index increased 36.53 points, or 0.4 percent, to 10,327.29. Within the index, 35 stocks rose, 11 stocks fell, and four were unchanged. Turnover was $294.7 million. Of that, A2 Milk accounted for $34.6 million, Contact Energy $31.4 million, and Spark New Zealand $26.9 million. Some...

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