Sharemarkets have rebounded on news that the European Union has finally agreed a bailout fund worth more 500 billion euros to stop the Greek debt crisis from spreading to other fragile countries.
News of the bailout ended three days of decline on the New Zealand sharemarket. The NZX 50 was up 11 points, or 0.3%, to 3170 at the close of trade on Monday.
Markets in Asia were also higher at the close. Japan's Nikkei index was up 1.60% recouping some of last week's losses.
The Topix index of all first section shares rose 12.90 points or 1.38% to 944.64.
In Australia, the index was 2.6% higher at the close of trade on Monday.
On Friday, the Dow Jones fell 140 points, or 1.3%, to end the week at 10,380. The Nasdaq Composite finished 54 points lower, or 2.33%, at 22266.
NZ share details
Fletcher Building was unchanged at $7.98 per share, Telecom was down 2c to $2.11, while Contact Energy gained 5c at $6.12 by the close of trade on Monday.
Air New Zealand was up 1c to $1.26, and Auckland International Airport was 2c higher at $1.95.
Sky Network Television gained 7c to $4.81 and Sky City Entertainment was up 4c to $3.04.
NZ Oil and Gas was up 3c at $1.58, New Zealand Refinery was 8c lower at $3.57 and Pike River Coal was unchanged at $1.03.
Fisher & Paykel Healthcare was 3c higher at $3.45, while Fisher & Paykel Appliances was down 1c to 62c after warning of possible asset writedowns totalling $26.5 million.
Retailer Pumpkin Patch was down 1c at $2.10, while The Warehouse gained 6c to close at $3.68.
In currency markets, at 5.20pm on Monday the New Zealand dollar was buying 72.20 US cents, 80.05 Australian, 48.50 pence, 66.83 yen and 0.5592 euro. The Trade Weighted Index was at 68.28.
