KEY POINTS:
The sharemarket opened 0.6 per cent higher today following a sharp rebound on Wall Street in overnight trading.
Friday's drop on Wall Street prompted the NZSX-50 index to slump over 2 per cent this time yesterday, although it recovered to end 1.1 per cent lower.
Today, the NZSX-50 index was up 25.5 points to 40100.7 at 10.05am, breaking a seven-session losing streak that had taken the market to a five-month low.
No 2 stock Fletcher Building surged 19c to 1244, Contact Energy 5c to 915 and Telecom was up 1c to 436.
Infratil, which yesterday said it would raise $175m to build a war chest, rose 15c to 295.
Fisher & Paykel Appliances, improving as the kiwi dollar has fallen, was up another 5c to 345. Pumpkin Patch, in the same category, was up 7c to 340. Both stocks bucked yesterday's downtrend.
Casino company Sky City was up 7c to 469 while Tower was also up 7c to 227 and Air NZ was up 5c to 261.
- NZPA
