Scoop Independent News writes: Thursday January 9th, 2014: New
Zealand shares rose, led by Xero on optimism more investors
will focus on the cloud-based accounting firm’s growth
potential. Wynyard Group, another high-growth tech company,
surged to a new record.
The NZX 50 Index rose 35.070
points, or 0.7 percent, to 4814.874. Within the index, 21
stocks rose, 20 fell and nine were unchanged. Turnover was
$95 million.
Xero, the top-performing stock on the NZX 50
last year, gained 7.4 percent to $39.25, pushing its market
capitalisation above $5 billion. The stock is up 13 percent
this year.
“We expect a huge year for Xero,” said
James Schofield, a tech analyst at First NZ Capital. “We
believe this global tech story will continue to gain
awareness with global and especially US investors.”
Thursday, January 9, 2014
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