The New Zealand sharemarket rose today, as investor confidence returned to the market with overseas stocks rising.
The NZX50 index was up 1.1 per cent or 41.21 points to 3871.25. Within the index, 35 stocks rose, six fell and nine were unchanged.
Hamilton Hindin Greene director Grant Williamson said there was some good buying strength in the market.
"I think the catalyst has been the offshore markets and the improvement seen in the Dow Jones last night and also in Australia today as Australian investors were back in buying mode," Williamson said.
"The stocks we saw move well today were mainly blue chip stocks. Fletcher Building was up ten cents to $7.16, the best close they have had since October last year."
Xero led the gaining stocks with a 3.85 per cent rise to $5.40. OceanaGold was up 2.8 per cent to $3.99. Nuplex Industries, the industrial chemicals and resins maker, was up 2.8 per cent to $2.93.
National carrier Air New Zealand rose 2.1 per cent to $1.21. Auckland International Airport was up 2.1 per cent to $2.68. Auckland electricity and gas supplier Vector rose 2.1 per cent to $2.93.
Kiwi Income Property Trust rose 1.8 per cent to $1.12. Casino and hotels operator Sky City Entertainment was up 1.6 per cent to $3.80. Retirement villages operator and developer Ryman Healthcare rose 1.5 per cent to $4.14.
Only half a dozen stocks were down. Insurer Tower fell 1.7 per cent to $1.77 after news it would need to raise its premiums up to 30 per cent to combat rising reinsurance costs.
Australian food ingredient maker Goodman Fielder was down 1.6 per cent to 63c. Would-be bank Heartland was down 1.5 per cent to 66c.
Jewellery retailer Michael Hill was down 0.9 per cent to $1.15. Property for Industry fell 0.4 per cent to $1.17. The Warehouse Group was down 0.3 per cent to $2.95.
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