25 Sep 2013

Sharemarket surges gaining 54 points

7:03 pm on 25 September 2013

The sharemarket surged on Wednesday with the benchmark Top 50 Index gaining 54 points, or more than 1%, to 4765.

A broker at First NZ Capital, Don Lewthwaite, says after a very quiet morning, trading activity picked up markedly.

He says there was interest from overseas institutions in selected stocks during the afternoon.

Mainfreight gained 20 cents to $11.40, Sky City Entertainment rose 15 cents to $4.01, Sky Network Television climbed 18 cents to $5.88 and TradeMe put on 15 cents to $4.73.

Kathmandu shares jumped 27 cents, or 8.5%, to $3.45.