KEY POINTS:
The New Zealand share market gained nearly half a per cent in the first throes of trading this morning.
The benchmark NZX-50 index was up 11.742 points, or 0.434 per cent, to 2717.488 after closing last night at 2705.746.
Volumes were light for those making the best percentage gains. Goodman Fielder rose 5c to $1.95, Fletcher Building gained 11c, or nearly 2 per cent, to $5.65.
Nuplex rose 5c to $2.90 and Michael Hill was up 1c to 53c.
Telecom and Goodman Property were the heaviest trading, rising 4c to $2.55 and 1c to 96c respectively.
Those losing ground were the ANZ Banking Group, down 41c, or 2.58 per cent, to $15.50 and Infratil down 2c to $1.63.
AMP Office lost 1c to 97c and The Warehouse lost 4c to $3.70.
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In the United States stocks rose in choppy trade on Monday, lifted by optimism over a US$68 billion ($132b) takeover in the drug industry and after a surprise rebound in housing data suggested the worst may be over.
"We haven't seen any big deals in a while (so) it's an indication that there are potentials for some deals to get done," said Kurt Brunner, portfolio manager at Swarthmore Group in Philadelphia, Pennsylvania.
The Dow Jones industrial average rose 71.85 points, or 0.89 per cent, to 8149.41. The Standard & Poor's 500 Index added 9.99 points, or 1.20 per cent, to 841.94. The Nasdaq Composite Index gained 17.83 points, or 1.21 per cent, to 1495.12.
- NZPA
