MARKET CLOSE: NZ shares rise as threat of US rate cut keeps yield in demand; Fonterra sinks

Thu, 04 Jul 2019

By Paul McBeth July 4 (BusinessDesk) - New Zealand shares rose as the prospect of the Federal Reserve cutting interest rates underpinned demand for companies offering reliable income such as utilities, infrastructure firms and property investors. Fonterra shares and fund units dropped. The S&P/NZX 50 Index increased 13.85 points, or 0.1 percent, to 10,558.28. Within the index, 25 stocks rose, 18 fell, and seven were unchanged. Turnover was $147 million, of which Pushpay Holdings accounted for $61.9 million. Stocks offering better ret...

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