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New Zealand's benchmark stock index has risen 2.2 per cent on opening this morning after Wall Street posted strong gains on news of a bailout for troubled US bank Citigroup.
The benchmark NZX-50 index was up 55.7 points at 2,631.16. Top stock Telecom Corp was 2.7 per cent higher at NZ$2.26, with the number two stock Contact Energy up 3.3 per cent at NZ$6.50.
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In New York, stocks closed as much as 6 per cent higher, as the market welcomed news of a $20 billion rescue package for Citigroup.
-REUTERS
