MARKET CLOSE: NZ shares rise; Tourism Holdings rallies on joint venture exit

MARKET CLOSE: NZ shares rise; Tourism Holdings rallies on joint venture exit
Dan Brunskill
New Zealand shares rose, led by Tourism Holdings as investors welcomed news the rental RV operator would shore up its balance sheet by selling down its stake in a joint venture project rather than raising money at a steep discount.The S&P/NZX 50 Index advanced 64.62 points, or 0.7 percent, to 9,935.18. Within the index, 29 stocks rose, 18 fell, and three were unchanged. Turnover was $198.4 million. Tourism Holdings led the market higher, rising 7.5 percent to $1 after it said it reached an agreement with Thor Industries to exit their T...

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