7 Nov 2014

NZ market closes week higher

6:21 pm on 7 November 2014

New Zealand shares rose again today, the benchmark Top 50 Index gaining 15 points to end the trading week on 5419.

Mighty River Power shares climbed 8.5 cents to $2.96, while Meridian Energy rose 5.5 cents to $1.72 as both are now included in the MSCI global equity indexes.

Xero shares rose 59 cents to $17.52 on news that it has purchased a payroll software company to help with its US market rollout.

Diligent rose 16 cents to $4.99 on strong third-quarter sales results.

Spark rose 3.5 cents to $3.05 on upbeat comments at the annual shareholders' meeting.

On the downside, The Warehouse fell 3 cents to $3.17 on disappointing first quarter sales.

Sky TV shares eased 11 cents to $6. 34, Fletcher Building fell 14 cents to $8.36 and Ryman Healthcare fell 12 cents to $7.70.

The New Zealand dollar was slightly weaker ahead of some some key United States jobs data expected later tonight.

A short time ago, it was trading at 76.66 US cents, 89.57 Australian, 48.43 British pence, 0.6192 euro, 88.38 yen and 4.69 renminbi.