The New Zealand sharemarket rose in early trading, after four trading days of losses and responding to Wall Street's rebound.US stocks jumped as manufacturing sector data came in better than expected.Shares in Auckland Airport were up 5.6c to $1.96 after
The New Zealand sharemarket rose in early trading, after four trading days of losses and responding to Wall Street's rebound.
US stocks jumped as manufacturing sector data came in better than expected.
Shares in Auckland Airport were up 5.6c to $1.96 after the lifting of a trading halt in place since last Wednesday while the company raised funds from large shareholders. The retail investors' issue is now under way.
Around 10.15am the benchmark NZX-50 index was up 18 points, or 0.6%, to 3168.97, having fallen 13.7 points yesterday when trading was reduced by the Auckland Anniversary Day holiday.
Shares rising 5c early included Fletcher Building to $7.95, Sky TV to $4.75, Sky City to $3.30 and NZ Refining Co to $3.67.
Among other early risers were Nuplex, up 4c to $3.25, Contact Energy up 3c to $5.83, Telecom up 2c to $2.39, Pike River Coal up 2c to 97c, and NZ Oil & Gas up 2c to $1.51.
In the US, stocks rose as investors scooped up beaten-down shares after a recent sell-off after the reassuring manufacturing data and upbeat results from Exxon Mobil.
The Dow Jones Industrial Average rose 1.2% to finish unofficially at 10,185.53, the S&P 500 Index gained 1.4% to 1089.19, and the Nasdaq Composite Index climbed 1.1% to 2171.20.
