MARKET CLOSE: NZ stocks rise on interest rate outlook; dairy shares gain

Thu, 11 Jul 2019

By Gavin Evans July 11 (BusinessDesk) - New Zealand stocks rose, joining a rally across Asia, as renewed prospects for deeper rate cuts in the US made equity investments more appealing. Dairy stocks also firmed. The S&P/NZX 50 Index increased 37.18 points, or 0.3 percent, to 10,687.32. Within the index, 31 stocks gained, 18 fell, and one was unchanged. Turnover was $164.9 million. Stocks across Asia were firmer today after cautious comments from Federal Reserve chair Jerome Powell overnight renewed expectations for a 50 basis-point ra...

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