MARKET CLOSE: NZ shares rise as Fonterra Fund recovers

Fri, 05 Jul 2019

By Paul McBeth July 5 (BusinessDesk) - New Zealand shares were led higher by a recovery in Fonterra Shareholders' Fund units after a sharp sell-off yesterday. Utilities and property investors remain in favour among investors wanting a decent yield. The S&P/NZX 50 Index rose 57.19 points, or 0.5 percent, to 10,615.47. Within the index, 33 stocks gained, 11 fell and six were unchanged. Turnover was $134.4 million. Fonterra fund units led the market higher, up 3.7 percent at $3.68. They bounced back from yesterday's 5.3 percent slide bu...

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