Business

NZ shares gain as defensive stocks find favour

New Zealand shares rose, led by Contact Energy and Meridian Energy as heightened uncertainty in global markets bolsters the attraction of defensive stocks offering stable dividends. 

The S&P/NZX 50 index increased 10.92 points, or 0.1 percent, to 8,670.94. Within the index, 19 gained, 26 fell, and five were unchanged. Turnover was $124.9 million. 

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