WELLINGTON, Dec 8 (Reuters) - New Zealand's benchmark stock index rose 1.1 percent on opening on Monday after Wall Street finished the week with strong gains.
The benchmark NZX-50 index rose 1.1 percent on opening, and extended gains in early trade to last trade 1.2 percent or 33.05 points higher at 2,739.77.
Top stock Telecom Corp was up 1.3 percent or three cents at NZ$2.35 and the number two stock Contact Energy was 1.3 percent higher at NZ$6.49.
In New York, stocks closed as much as 4.4 percent higher, as a steep drop in oil prices bolstered hopes of a rise in consumer spending, which offset poor employment data.
($1=NZ$1.88) 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 1.1 percent on opening, and extended gains in early trade to last trade 1.2 percent or 33.05 points higher at 2,739.77.
Top stock Telecom Corp was up 1.3 percent or three cents at NZ$2.35 and the number two stock Contact Energy was 1.3 percent higher at NZ$6.49.
In New York, stocks closed as much as 4.4 percent higher, as a steep drop in oil prices bolstered hopes of a rise in consumer spending, which offset poor employment data.
($1=NZ$1.88) 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.