New Zealand shares rose to a new record with Xero, Metlifecare and Steel & Tube Holdings gaining while Air New Zealand dropped on its June operating statistics. New Zealand Refining rose 0.4 per cent to $2.57. The S&P/NZX 50 Index gained 17.84 points, or 0.3 per cent, to 7172.67. Within the index, 30 stocks rose, 14 fell and seven were unchanged. It has raised $160m after its existing investors took up 87 per cent of the units in a two-for-nine renounceable rights offer.

Source: New Zealand Herald July 20, 2016 09:00 UTC