New Zealand Stocks Rise, Led by New Zealand Oil & Gas, Telecom
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New Zealand's NZX 50 Index gained for a third day, rising 29.53, or 1 percent, to 3,120.91 at the close in Wellington, the highest in a week. The following shares were among the biggest winners and losers. Stock symbols are in parentheses after company names.
New Zealand Oil & Gas Ltd. (NZO NZ), a partner in the country's Tui oil field, extended this week's decline, dropping 4 cents, or 2.4 percent, to NZ$1.62. It was the index's third-biggest loser. The company said yesterday the Mohomo-1 exploration well will be plugged and abandoned.