The New Zealand sharemarket started firmly after United States equities rebounded in the last hour of trading after a back-and-forth session.
Leading shares were to the fore early in this country with Telecom up 3c to $2.41, Fletcher Building up 11c to $5.76, and Contact Energy up 5c
to $6.90.
Around 10.15am the benchmark NZX-50 index was up 25.17 points, or 0.9 per cent, to 2736.72, after yesterday closing down 13.2 points.
Carpet maker Cavalier Corp's shares were up 30c, or 16 per cent, early to $2.14 on small volume.
Sky TV continued its gains of December, rising 4c to $3.95 after having been down at $3.21 early in the month.
Ryman Healthcare was up 3c to $1.48, and Auckland Airport gained 2c to $1.68.
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US stocks ended higher as a rebound in oil prices and other commodities lifted energy and mining shares, offsetting nervousness over the fate of Washington's bailout for ailing carmakers.
Preliminary closing figures put the Dow Jones industrial average up 0.8 per cent, the Standard & Poor's 500 Index up 1.2 per cent, and the Nasdaq Composite Index also up 1.2 per cent.
- NZPA
