The New Zealand sharemarket rose early as key stock Telecom added to gains from yesterday to be near its seven-month high reached in mid-November.Telecom's shares gained 3c yesterday and another 3c early today to be at 221, just 1c down on the mid-Novembe
The New Zealand sharemarket rose early as key stock Telecom added to gains from yesterday to be near its seven-month high reached in mid-November.
Telecom's shares gained 3c yesterday and another 3c early today to be at 221, just 1c down on the mid-November peak of 222.
Another major stock, Fletcher Building, lifted 4c early to 795, adding to a 4c gain yesterday.
Around 10.15am the benchmark NZX-50 index was up 14.51 points to 3299.99, adding to a gain of 20.4 points yesterday.
Sky TV was up 5c early to 520, while Sky City added 2c to 314.
In the United States, stocks continued the strong start to December into a second day, as strong retail sales and a healthy reading on the housing market helped boost major indexes.
According to preliminary calculations, the Dow Jones industrial average was up 1 percent to close at 11,362, the S&P 500 rose 1.3 percent to 1221, and the Nasdaq composite index rose 1.2 percent to 2579.
