New Zealand share prices closed 1.13 percent higher Thursday, reflecting gains in the US and Australia, dealers said. The benchmark NZX-50 index rose 35.21 points to 3,152.80 on turnover worth 122.3 million dollars (87.3 million US). Rising stocks outnumbered declines by 57 to 25.
"It's not super aggressive, it's just steady and very clearly driven by another rapid movement day in Australia," Craigs Investment Partners adviser Nigel Scott told Dow Jones Newswires, adding that trade was fairly thin. Fletcher Building rose 19 cents to 8.37 dollars, reflecting emerging confidence that the worst might be over for the economy.
Mainfreight rose 10 cents to 5.30 dollars, Steel & Tube added 11 cents to 3.45 and Tourism Holdings gained three cents to 72 cents. Market leader Telecom started the day quietly but ended six cents higher at 2.74 dollars.
Casino operator Sky City lost one cent to 3.22 dollars, Auckland Airport rose five cents to 1.80 and retail investor Hellaby rose 13 cents to 1.73. Pay television firm Sky TV fell five cents to 4.45 dollars and Pyne Gould Corp was also flat at 1.05, while Fisher & Paykel Healthcare rose seven cents to 3.22 dollars. Contact Energy rose one cent to 5.94 dollars and Air New Zealand added a cent to 1.23.