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NZX50 climbs 4.1% in week; yield demand reigns

The S&P/NZX 50 Index hit a record this week.

BusinessDesk

By: Paul McBeth

The S&P/NZX 50 Index hit a record, rising 4.1 per cent this week with high-yielding utilities and property stocks still in hot demand against a backdrop of ultra-low interest rates.

The benchmark index was up 112.32 points, or 1 per cent, at 11,218.99. Within the index, 39 stocks rose, six fell, and five were unchanged. Turnover was a healthy $194.8 million, more than the $159m daily average during August.

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