New Zealand share prices closed 0.36 percent higher on Monday as a retreat by the strong New Zealand dollar boosted stocks of exporters, dealers said. The benchmark NZX-50 gross index was up 15.12 points at 4,238.65 on turnover worth 83.57 million dollars (64.79 million US). Rises outnumbered falls 64 to 34.
Despite a one-cent fall in top stock Telecom to 4.61 dollars, "having the currency ease back has given our market a bit of a boost," said David Le Breton of ASB Securities. Among shares to get some relief from the local dollar's dip below 78 US cents were Fisher & Paykel Appliances, up four cents to 3.50 dollars, Fisher & Paykel Healthcare, up four cents to 3.28, Rakon up 10 cents to 4.80 and Pumpkin Patch which ended 10 cents higher at 3.58.