The New Zealand share market may chalk up another days of strong gains it if takes its lead from offshore equity markets, which rallied on hints of further economic stimulus and rumours of a Spanish bank deal.
Both the European Central Bank and the US Federal Reserve drip fed further hints to stimulus hungry investors, saying they stood ready to step in and support their respective economies should they deteriorate further.
Previous stimulus programmes, particularly the two rounds of US quantitative easing, provided a major boosts to equities, and stock market investors are hoping for more of the same.
Sentiment was also helped by a Reuters report claiming Spain had reached a deal with European Union officials on recapitalising its ailing banks but without the austerity conditions usually attached to these deals.
Stocks to watch:
Retirement village operator Metlifecare says shareholders will get the opportunity to vote on its proposed $115 million acquisition of Vision Senior Living and Private Life Care on June 21. The announcement was accompanies by a letter from independent directors Brent Harman and John Loughlin supporting the deal. MET shares rose 0.5 per cent yesterday to $2.09.
Australia and New Zealand
NZX 50: +1.3 per cent to 3464.51
S&P/ASX 200: +0.3 per cent 4055.3
Dow: +2.37 per cent to 12,414.80
S&P 500: +2.3 per cent to 1315.13
Nasdaq: +2.4 per cent to 2844.72
FTSE 100: +2.36 per cent to 5384.11
Dax: +2.09 per cent to 6093.99
Stoxx 600: +2.28 per cent to 239.95
Nikkei: +1.81 per cent to 8533.53
Hang Seng: +1.43 per cent to 18,520.50
The New Zealand dollar recently traded at US77.04 cents, up from US76.22c at 5pm yesterday.
Gold: US$1619.79 an ounce, from US$1617.25 yesterday
ICE Brent Crude: US$100.86 a barrel, from US$98.69 yesterday
Thompson Reuters Jefferies CRB: +01.27 per cent to 273.77