Tech stocks snap two-day decline on Wall Street relief rally; Xero, Pacific Edge gain

Tue, 15 Apr 2014

By Suze Metherell April 15 (BusinessDesk) – New Zealand tech stocks led the local market higher in morning trade, snapping a two-day decline as an overnight relief rally on Wall Street saw investors return to tech and biotech stocks. Xero and Pacific Edge rose. Xero, the cloud-based accounting software company, rose 0.5 percent to $29.44 after declining 35 percent over the past 18 trading days. The stock has soared 49 percent the past six months after the Wellington-based company raised $180 million in October, selling 9.92 million shares a...

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