The New Zealand sharemarket opened up more than 1% on Wednesday after a rally on Wall Street.
The Dow Jones Industrial Average closed up 3.3 per cent as bargain-hunters snapped up stocks after six consecutive days of losses.
At 10.50am, the NZX 50 index was up 42 points, or 1.7%, to 2530 points, with 11 million shares changing hands in the first 45 minutes of trade.
Strong interim results from Port of Tauranga and NZ Oil & Gas helped spur the local market.
Telecom and Contact Energy were both up 15 cents. Fisher & Paykel Appliances was up 2 cents to 52c.
