MARKET CLOSE: NZ shares rise as utilities buoy market

Wed, 04 Mar 2020

New Zealand shares rose for a second day despite a weak lead from Wall Street. Utilities led the local market higher as the prospect of low interest rates for longer made companies paying reliable dividends more attractive. The S&P/NZX 50 Index gained 71.47 points, or 0.6 percent, to 11,417.78. Within the index, 18 stocks rose, 28 fell, and four were unchanged. Turnover was $242.8 million. David Price, a broker at Forysth Barr, said low long-term interest rates supported demand for equities offering reliable returns. He was less upbeat a...

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