SciTech Index opens with strong results

The New Zealand Stock Exchange yesterday launched a new SciTech Index, headlined by market debutant Rakon.

The index, created to promote New Zealand science and technology stocks, touched an intraday high of 1331 - up almost 5 per cent on its 1272 open.

"The aim of this index is to provide the investment community with a performance measurement tool and to promote and raise the profile of these companies," said NZX products head Geoff Brown.

- NZPA