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MARKET CLOSE: NZ shares gain; Trade Me jumps as Fairfax sells down
June 18 (BusinessDesk) - New Zealand shares rose, led by online auction site Trade Me after parent Fairfax Media sold down its stake to pay for a three-year restructuring of its newspapers. Xero and Diligent fell on their debut in the NZX 50 Index, having risen ahead of today....
NZ dollar climbs above 79 US cts as Greek election result quells investor nerves
By Paul McBeth June 18 (BusinessDesk) - The New Zealand dollar rose above 79 US cents for the first time in more than a month after Greece elected parties that are likely to sign up to Europe's austerity measures. The kiwi rose to 79.29 US cents at 5pm from 78.88 cents at 8am...
Rinehart lifts Fairfax stake to 18.7% as shares climb on restructuring news
By Paul McBeth June 18 (BusinessDesk) - Australian mining magnate Gina Rinehart lifted her stake in Fairfax Media to 18.7 percent, strengthening her case for a board seat as the media company cuts back on printing and puts content behind a digital paywall to counter sliding adve...
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