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listed Xero hits two-month high on first-half revenue gain, announces buyback

By Reuters News

** Shares of ASX-listed Xero XRO.AX rise as much as 12%, hitting their highest level since September 4

** The cloud accounting software provider posted first-half revenue of NZ$1.75 billion ($973.18 million), compared to NZ$1.19 billion the previous year

** Co also announced A$1 billion share buyback

** Stock is top gainer on tech sub-index .AXIJ, adding to the benchmark's 0.9% rise

** Analysts at Citi rate the stock "buy"

** Stock down 33% YTD, including sessions' moves


($1 = 1.7982 New Zealand dollars)

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