The New Zealand sharemarket started the day strongly, following a surge in equities in the United States.Telecom was up 3c early to 190, on top of a 6c gain yesterday, having fallen to a record low of 179 this week.Among other leading stocks, Fletcher Bui
The New Zealand sharemarket started the day strongly, following a surge in equities in the United States.
Telecom was up 3c early to 190, on top of a 6c gain yesterday, having fallen to a record low of 179 this week.
Among other leading stocks, Fletcher Building gained 10c early to 810, and Contact Energy lifted 8c to 581.
Around 10.15am the benchmark NZX-50 index was up 32.84 points to 3035.17, after closing up 2.2 points yesterday.
Other early risers included Hallenstein Glasson up 8c to 342, Port of Tauranga up 7c to 662, Nuplex up 6c to 293, The Warehouse up 5c to 350, Sanford up 5c to 418, and Sky City up 4c to 294.
Sky TV gained 3c early to 458, and Ryman Healthcare lifted 3c to 214, while Pike River Coal was up 2c to 95, NZX gained 2c to 160, NZ Oil&Gas lifted 2c to 143, and Auckland Airport was up 2c to 187.
In the US, stocks posted their best day in the last nine, in response to signs of health in the euro debt market and as investors snapped up energy shares crushed in the previous day's sell-off.
Spain sold 3.9 billion euros ($NZ6.9b) of a three-year benchmark bond seeing strong demand, a positive sign for investors worried about appetite for debt from struggling European nations.
The Dow Jones industrial average jumped 2.8 percent to 10,172.53, the Standard&Poor's 500 Index rose 3 percent to 1086.84, and the Nasdaq Composite Index gained 2.8 percent to 2218.71.
