New Zealand shares rose today, with the benchmark Top 50 Index gaining 17 points to close at 5163.
A director of wealth management at Murray and Co, Johnny Cochrane, said stocks rose today after Wall Street calmed down after a sharp sell-off.
Kiwi Income shares rose 2 cents to $1.18.5, Precinct Properties shares increased 1 cent to
$1.09 and Mighty River Power shares gained 5 cents to $2.63.
Meridian Energy's installment receipts rose 1.5 cents to 1.54.5. However, A2 Milk shares lost 3 cents to 55 cents.
Meanwhile, the New Zealand dollar dropped about half a US cent today from a day ago.
The senior client adviser at Bancorp Treasury Services said that was because the US dollar strengthened against a range of currencies.
Peter Cavanaugh said the results of tonight's Global Dairy Trade auction would determine the dollar's next move.
At 5.20pm today, the dollar was trading at 78.45 US cents, 89.91 Australian cents, 49.28 British pence, 0.6201 euro, 84.08 yen and 4.81 renminbi.