New Zealand shares rose on speculation the incumbent National-led government will return for a third term. Meridian Energy, MightyRiverPower, Contact Energy and Genesis Energy paced gains.
The NZX 50 Index rose 32.492 points, or 0.6 percent, to 5148.291. Within in the index, 28 stocks rose, 13 fell and nine were unchanged. Turnover was $121.4 million.
Investors are growing increasingly confident the National-led government will return at this year's general election, supporting energy stocks which had been depressed by opposition party policies to overhaul New Zealand's electricity market.
Meridian climbed 1.7 percent to $1.20. Contact advanced 0.7 percent to $5.61. MRP rose 0.2 percent to $2.29. Outside the NZX50, Genesis gained 1.9 percent to $1.89, 22 percent above its initial offer price two weeks ago. Vector, the Auckland lines company, rose 0.4 percent to $2.51.
"The electricity sector appears to have done very well today," said Paul Valk, investment adviser at Craigs Investment Partners. "Whether that is a view that people see National looks more likely to get into power and not make any changes to the electricity sector."