6 Apr 2009

NZX 19 points up; dollar hits 12-week high

9:01 pm on 6 April 2009

The NZX top 50 index closed 19 points up on Monday, reaching 2633 on turnover of $55 million, while the Australian 200 index rose 21 points to 3756.

Telecom gained 5c to close at $2.45, while Contact Energy rose 6c to $5.96, Fletcher Building 30c to $6.20 and Michael Hill International 3c to 52c. The Warehouse fell 12c to $3.47.

In currency markets, the Kiwi dollar was trading at 59.35 US cents, after hitting a 12-week high of around 59.4 against the greenback earlier on Monday. That appears to be a continuation investors' increased appetite for risk following moves to stabilise the global economy.

The Kiwi's also buying 82.72 Australian, 39.74 pence, 59.78 yen and .4377 euro. The TWI stands at 58.72.

Tokyo's highest close for three months

The Australian sharemarket closed higher after gains in financial stocks ahead of the Reserve Bank of Australia's interest-rate decision on Tuesday.

At the close, the S&P/ASX200 was up 21 to 3756.6, while the broader All Ordinaries gained 22.4 to 3696.4.

In Tokyo, Japan's Nikkei stock index rose 1.24% per cent to finish at a three-month high, boosted by fresh gains on Wall Street and a weaker yen, which is good for exporters.

The benchmark Nikkei-225 index climbed 108.09 points to end at 8857.93, the highest close since January 8. But the broader Topix index of all first-section shares slipped 0.39 to 830.97.