The New Zealand sharemarket has risen on the back of strong gains on Wall Street, with the benchmark NZX 50 index up 23 points, or 0.7%, to 31.68 on turnover of $29 million at 12.20pm.
Fletcher Building was up 9 cents to $7.95, Telecom up 6 cents to $2.54 after a $163 million quarterly profit, and Contact Energy up 5 cents to $6.04.
Sky Network Television was up 4 cents to $4.84 while Fisher & Paykel Appliances rose 2 cents to $0.67.
Nuplex was up 13 cents to $2.53 after saying its full year profit will rise by as much as 78% to be between $36 million and $44 million.
Kiwi Income Property Trust was down 1 cent to $1.04 after a half year loss of $18.2 million, due to a drop in the value of its property portfolio.
Rakon was up 3 cents to $1.19.
Across the Tasman, the Australian 200 index was up 62 points, or 1.4%, to 45.69.
In currency markets, the NZ dollar has declined and was at 72.10 US cents, 79.22 Australian, 43.47 pence, 65.41 yen and 0.4847 euro. The TWI is 64.72.