21 Jul 2009

NZ market gains 2% by close of trade

10:21 pm on 21 July 2009

The New Zealand share market was almost 2% higher at the close of trade on Tuesday.

The benchmark index was up 52 points, or 1.82%, to close at 28 73 on turnover of $80 million.

Top stocks were all higher. Telecom was up 4 cents $2.77, Fletcher Building soared 22c to $7.04 and Contact Energy rose 13c to $6.03.

Air New Zealand was up 2c to 95c, while Sky City Entertainment jumped 19c, almost 7%, to $3.05.

Japanese share prices ended sharply higher on Tuesday, as optimism grew about the outlook for the economy and corporate earnings, dealers said.

The benchmark Nikkei-225 index rose 256.70 points, or 2.73%, to 9,652.02. The broader Topix index of all first section shares gained 23.26 points, or 2.65%, to 901.55.

The Australian share market finished the day flat, as rises to big miners outweighed a lower banking sector.

At the 1615 AEDT close, the benchmark S&P/ASX200 index edged up 0.4 points, or 0.01%, to 4050.7 points, while the broader All Ordinaries index gained 0.1%, or 4.1 points, to 4048.3.