Market close: NZ sharemarket rises

The New Zealand sharemarket staged another strong afternoon turnaround and headed for the 13,000-point mark. But the country’s biggest telco, Spark, continued to drift on a broker downgrade.

The S&P/NZX 50 Index reached a morning low of 12,721.72 but recovered at midday and closed at 12,923.22, up 99.33 points or