New Zealand share prices closed 0.50 percent higher on Thursday following a sharp rise in market leader Telecom, dealers said. The benchmark NZX-50 gross index rose 20.74 points to 4,168.10 on turnover worth 149.0 million dollars (108.3 million US).
Telecom rose 18 cents to 4.87 dollars, while other leading stocks were mostly lower. Second-ranked Fletcher Building fell 15 cents to 11.24 dollars and Contact Energy lost eight cents to 9.00, after reaching a record high of 9.30 on Tuesday.