MARKET CLOSE: NZ shares rise; Auckland Airport rallies after $1b placement

MARKET CLOSE: NZ shares rise; Auckland Airport rallies after $1b placement
Dan Brunskill
New Zealand shares rose as Auckland International Airport resumed trading after successfully raising $1 billion in a discounted placement to shore up its balance sheet. The S&P/NZX 50 Index increased 46.03 points, or 0.5 percent, to 9,809.85. Within the index, 41 stocks rose, seven fell, and two were unchanged. Turnover was $239.4 million.Investors cleared out their portfolios yesterday to take part in the Auckland Airport placement, with the shares sold at $4.66 apiece to institutions in the bookbuild process. The airport operator's s...

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