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The New Zealand sharemarket remained positive despite a rate hike imposed by Reserve Bank Governor Alan Bollard, preferring to focus on Wall Street's earlier rise to a record high.
Dr Bollard lifted the Official Cash Rate to 7.75 per cent from 7.50, his second hike in two months.
The benchmark NZSX-50 index rose 11.79 points to 4174.90, on turnover totalling $106.2 million. Rises outnumbered falls 56 to 40.
The index took a near 1 per cent hit on Tuesday before Anzac Day.
"It might have taken heart from the fact that Dr Bollard has said nothing about future rises and in fact has waved the prospect of some sort of intervention to get the dollar down," said Stephen Wright of ASB Securities.
Investors welcomed Fisher & Paykel Appliance's decision to relocate some laundry product manufacturing to Thailand, boosting the stock 8c to 360. The shares hit a high of 371.
The iconic whiteware company expects the move, which will result in the loss of 350 jobs, to produce benefits of between $10 million and $15 million a year, at a one-off cost of up to $25m, before tax.
Top stock Telecom fell 4c to 480, Fletcher Building fell 6c to 1145 after the rate rise, and F&P Healthcare recovered from Tuesday's fall despite a still-strong New Zealand dollar, gaining 8c to 362.
Contact Energy rose 11c to 913.
"The market has generally, apart from Fletcher Building, taken the rate rise in its stride and even the rises in the exchange rate," he said.
Sky City fell 5c to 480 after Australian betting company Tabcorp squashed speculation it was a takeover target, while Sky TV gained 8c to 605.
Air NZ jumped 12c to 279, and Auckland Airport was up 8c at 242.
"Airlines around the world are said to be doing well at the moment, certainly in Asia, and Auckland Airport feeds off that," Mr Wright said.
Fast food operator Restaurant Brands rose 2c to 92 after reporting an annual loss of $3.6 million.
"As expected, but looking forward to this year with the weight of Pizza Hut Australia off its hands and predicting some recovery in its New Zealand Pizza Hut operations," Mr Wright said.
Tourism Holdings rose 7c to 217 after upgrading its annual profit guidance to between $17.5 million and $18.5 million.
NZ Refining was up 6c at 660 after approving a $180 million refinery upgrade.
Among dual-listed stocks, ANZ fell 4c to 3453 after reporting a nearly 12 per cent rise in underlying interim profit, Westpac jumped 30c to 3050, and AMP was up 9c at 1220.
Australia's benchmark index rose 0.5 per cent to 6221.5, while Japan's Nikkei average rose 1.3 per cent.
In the US, the Dow closed above 13,000 for the first time and the broader stock market rose to its highest level in more than six years after strong profit reports and reassuring news on the economy.
- NZPA