Shares gain as power companies buoyed by low rate outlook
New Zealand shares gained as growing bets for an interest rate cut by the Reserve Bank stoked demand for utility companies such as Mercury NZ, Meridian Energy and Genesis Energy with steady dividends.
The S&P/NZX 50 index rose 70.77 points, or 0.8 percent, to 9,280.77. Within the index, 33 stocks gained, nine fell and eight were unchanged. Turnover was $187.6 million, of whi