NZ Shares: Strong open after good day on Wall St

Most leading shares were up today as the New Zealand sharemarket charged ahead following a strong performance on Wall Street.

The market heavyweights posted gains, with Fletcher Building up 20c at $6.89, Contact 10c at $6.10 and Telecom 4c to $2.62.

Around 10.15am, the benchmark NZX-50 index was at 2821.87, rising 44.01 points or 1.6 per cent.

Other shares to rise today included Lion Nathan, up 10c to $14.95, Ryman, 8c to $1.65, Fisher & Paykel Healthcare, 5c to $3.15, NZOG 5c to $1.49, Pike River Coal 4c to $1.07, Auckland Airport 3c to $1.69 and Fisher & Paykel Appliances 3c to 64.

The dual-listed Australian bank Westpac rose 40c to $26.50, while ANZ added $1.67c on low volume trading to $20.99.

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The Dow Jones industrial average gained 235.44 points, or 2.85 per cent, to 8504.08. The Standard & Poor's 500 Index rose 26.83 points, or 3.04 per cent, to 909.71. The Nasdaq Composite Index advanced 52.22 points, or 3.11 per cent, to 1732.36.

- NZPA