MARKET CLOSE: NZ shares gain; FRE, PPL up
July 30th, 2010July 30 () – New Zealand shares rose for the third straight day as optimism the globe will avoid a double-dip recession. Shares including Freightways Ltd. and Pumpkin Patch led the advance.
The NZX 50 Index gained 14.09, or 0.5%, to 3047.11. Within the index, 20 stocks rose, 19 fell and 11 were unchanged.
Freightways rose 2.6% to $2.82. The courier firm this week announced it had set up the infrastructure to allow traders on the TradeMe website to arrange shipments through the company’s network.
APN New & Media, the publisher of the New Zealand Herald, gained about 2% to $2.60 and children’s clothing retailer Pumpkin Patch rose 1.7% to $1.84.
Australia’s S&P/ASX 200 Index fell 0.6% and Japan’s Nikkei 225 Index slipped 1.6% today. Asia’s eq