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

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

More Markets

NZX rebound continues, Precinct Properties up 5.5%
Markets Market Close

NZX rebound continues, Precinct Properties up 5.5%

Market nerves have settled, says Forsyth Barr's Peter Sigley.

Westpac's NZ net interest margin expands again
Finance

Westpac's NZ net interest margin expands again

Net interest margins rose in NZ, but shrank for the group as a whole.

Smartpay buyout offer price 20% higher, shares follow
Retail

Smartpay buyout offer price 20% higher, shares follow

A third player entered the race to buy Smartpay.

Cooper Investors' roller coaster run on Ryman
Property Analysis

Cooper Investors' roller coaster run on Ryman

The Aussie fund manager has lost millions on the retirement company.