New Zealand shares edge higher

New Zealand shares edge higher

New Zealand's benchmark S&P/NZX 50 index rose 0.25 per cent or 15.83 points to 6,807.65 on Tuesday.

New Zealand Banking Group posting its biggest half-yearly decline in cash profit since 2008 and slashed dividends for the first time in seven years on rising corporate defaults triggered by a mining downturn.

New Zealand's biggest poultry processor Tegel Group Holdings Ltd jumped as much as 10 percent after its debut on the New Zealand stock exchange on Tuesday.

Air New Zealand rose 2.78 per cent as the airline held its investor day presentation and said the fuel price outlook and record tourism to New Zealand continued to be favourable.

Sky TV lost 1.85 per cent and telecommunications operator Spark fell 1.76 percent, according to a news agency report.