The New Zealand sharemarket started the day with a burst after strong gains by global equities, as investor worry was eased after China rejected a report it was reviewing its euro-zone bond holdings due to the region's debt crisis.Around 10.15am the bench
The New Zealand sharemarket started the day with a burst after strong gains by global equities, as investor worry was eased after China rejected a report it was reviewing its euro-zone bond holdings due to the region's debt crisis.
Around 10.15am the benchmark NZX-50 index was up 32.58 points to 3067.41, having yesterday gained 23.6 points after earlier in the day dipping below the 3000 mark for the first time in about 10 months.
Fletcher Building was up 12c early to 805, Contact Energy gained 8c to 600, Nuplex lifted 7c to 307, and NZX lifted 6c to 166.
Insurer and fund manager Tower also gained 6c, to 190, after saying it would pay its first interim dividend since 2002 as it reported a 28.8 percent rise to $27.7m in underlying half year profit.
Fisher&Paykel Appliances were up 3c to 58 after saying its Appliances business had recovered in the second half of the financial year, despite a continuation of difficult trading conditions in the United States. Full year normalised group profit after tax of $18m, was down from $33.8m the year before.
Sky TV shares rose 5c to 470, The Warehouse was up 5c to 353, Sky City gained 4c to 296, NZ Oil&Gas was up 4c to 141, Tourism Holdings was up 3c to 84, Ryman Holdings lifted 3c to 214, Restaurant Brands was up 3c to 225, NZ Refining Co gained 3c to 328, and Auckland Airport lifted 3c to 190.
In the US, the Dow Jones industrial average gained 2.9 percent to 10,258.99, the Standard&Poor's 500 Index advanced 3.3 percent to 1103.06, and the Nasdaq Composite Index jumped 3.7 percent to 2277.68.
