New Zealand share prices closed 1.08 percent higher on Monday, following a lead from US markets, dealers said. The benchmark NZX-50 index rose 32.72 points to 3,067.67 on turnover worth 110.6 million dollars (75.7 million US). There were 61 rises and 21 falls among the 113 stocks traded. Market leader Telecom rose eight cents to 2.72 dollars, Contact Energy added five cents to 6.25 and Fletcher Building was up three cents at 7.77.
Jeweller Michael Hill International was the biggest percentage gainer, rising five cents to 72. Mainfreight rose 15 cents to 5.30 dollars, New Zealand Refining continued a bounce back from recent lows, rising 30 cents to 5.50. Air New Zealand rose two cents to 1.24 dollars as it denied media reports it was involved in an air cargo cartel investigation in Australia.