MARKET CLOSE: NZ shares rise; Metlife jumps on takeover talk

Wed, 20 Nov 2019

New Zealand shares were led higher by Metlifecare after the retirement village operator said it had attracted a sub-par offer from a credible buyer. The S&P/NZX 50 Index rose 83.25 points, or 0.8 percent, to 10,975.49. Within the index, 27 stocks rose, 16 fell and seven were unchanged. Turnover was $189.1 million. Metlifecare jumped 12.8 percent to $5.73, a 12 month-high, with 576,000 shares traded. That was more than twice its 90-day average of 248,000, and comes a day after an investor bought 3.6 million shares at $5.05 apiece. Metlif...

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