New Zealand share prices closed 0.28 percent higher on Monday in light trading ahead of a public holiday, dealers said. The benchmark NZX-50 index rose 10.22 points to 3,710.11 on turnover worth 58.9 million New Zealand dollars (37.4 million US). Rises outnumbered falls by 52 to 43 among 140 stocks traded.
James Smalley, a client adviser at Hamilton, Hindin, Greene brokerage, said many market players chose to extend Tuesday's ANZAC public holiday into a four-day weekend.
Market leader Telecom closed up 10 cents at 5.51 dollars, number two Contact Energy eased two cents to 7.80, Auckland Airport dipped two cents to 1.98 and Fletcher Building dropped five cents to 9.05.
The market had rallied strongly in the past month on the back of a weaker currency and was now consolidating ahead of the May reporting season, Smalley said.
The New Zealand dollar closed local trading at 63.50 US cents following a fall in the US dollar and expectations the local central bank will keep interest rates on hold on Thursday.
Export stocks with an exposure to the New Zealand dollar fell, with Fisher and Paykel Appliances down 10 cents at 4.45 dollars.
Allied Farmers rose two cents to 2.62 dollars after dropping a controversial shareholder vote on its 15.6 million dollar take-over of Prime Finance.
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