NZ shares gain as Chorus dividend leads the way

Chorus is singing its investors' song. (Image: Supplied)

Mon, 26 Aug 2024

New Zealand shares rose for a second day, led by broadband network operator Chorus and its rosier dividend outlook, just as a pivot in US interest rates stokes investors’ appetite for reliable income stocks. The S&P/NZX 50 Index advanced 59.84 points, or 0.5%, to 12,589.83. Across the main board, 67 stocks rose, 64 fell and 48 were unchanged. Turnover was $82 million, less than the $137m daily average in July. The benchmark index started the week with a strong lead from the US, where Federal Reserve chair Jerome Powell signa...

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