MARKET CLOSE: NZ shares rise; Napier Port has promising debut

Tue, 20 Aug 2019

By Victoria Young Aug. 20 (BusinessDesk) – New Zealand shares rose as Napier Port Holdings climbed on debut, rising 13.5 percent to $3 from its IPO price of $2.60 a share. The S&P/NZX 50 Index rose 101.36 points, or 0.9 percent, to 10,803.84. Within the index, 28 stocks rose, 16 fell and six were unchanged. Turnover was moderate at $105.4 million. Hamilton Hindin Greene investment adviser Grant Williamson said the local market was responding to strong markets overseas, with expectations interest rates may come down even further. Na...

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