New Zealand share prices closed 0.37 percent higher in light trade on Monday, with number two stocks Contact Energy providing much of the upward impetus, dealers said. The benchmark NZSX 50 Gross Index gained 11.64 points 3,140.84 on slim turnover worth 66 million New Zealand (49 million US) dollars. Contact Energy rose nine cents to 6.90 dollars, while top stock Telecom ended the session a cent higher at 6.27. The boost for Contact Energy came after the stock had pulled back from highs earlier this month, with a central bank interest rate hike and the higher local currency and oil prices discouraging buyers.
Many top stocks going ex-dividend were trading at a discount to Friday's close - less their payout. Fletcher Building, ex-dividend at 15 cents per share, dropped 15 cents to 7.07 dollars, while Auckland International Airport, ex-dividend at 15 cents, was down 20 cents at 8.20. Other top stocks on the move included INL up five cents to 6.10 dollars, Pumpkin Patch up seven cents to 3.37 and Sky TV up six cents at 6.52,
Cavalier Corp was down 10 cents at 4.05 dollars and Port of Tauranga was down five cents at 5.20.