WELLINGTON, Nov 24 (Reuters) - New Zealand's benchmark stock index rose 1.2 percent on opening on Monday after Wall Street finished the week with strong gains.
The benchmark NZX-50 index rose 1.2 percent on opening, and extended gains in early trade to be 1.6 percent or 41.7 points higher at 2,619.75.
In New York, stocks closed as much as 6.5 percent higher, as the market welcomed reports Timothy Geithner, president of the Federal Reserve Bank of New York, would be the new Treasury Secretary.
($1=NZ$1.69) Keywords: MARKETS NEWZEALAND/STOCKS (Wellington newsroom tel +64 4 471-4234, fax +64 4 473-6212, wellington.newsroom@reuters.com) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The benchmark NZX-50 index rose 1.2 percent on opening, and extended gains in early trade to be 1.6 percent or 41.7 points higher at 2,619.75.
In New York, stocks closed as much as 6.5 percent higher, as the market welcomed reports Timothy Geithner, president of the Federal Reserve Bank of New York, would be the new Treasury Secretary.
($1=NZ$1.69) Keywords: MARKETS NEWZEALAND/STOCKS (Wellington newsroom tel +64 4 471-4234, fax +64 4 473-6212, wellington.newsroom@reuters.com) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.