New Zealand shares rose today, the benchmark Top 50 Index soaring a 48 points to a record 5244.
Murray & Co director of wealth management Johnny Cochrane said much of the price gain had been driven by positive profit results announcements, including Genesis Energy which posted an annual profit of $49.15 million.
"Today, a strong result from Air New Zealand - normalised profit up 30 percent year-on-year, along with an announcement of a 10 cent special dividend," he said.
"Genesis, again, a good result. Key metrics were all better than prospective financial information."
Air New Zealand shares gained 2.5 cents to $2.175, Genesis Energy shares climbed 5.5 cents to $1.815, Ebos rose 14 cents to $9.59 and Auckland International Airport shares put on 7 cents to $3.73.
Dollar rises following Fonterra announcement
The New Zealand dollar was mostly stronger against the currencies of the country's major trading partners.
Bancorp Treasury Services senior client advisor Peter Cavanaugh said the currency was buoyed by relief that Fonterra had maintained its milk price forecast.
"It's been nothing but bad news for the New Zealand dollar recently," he said.
"The announcement that Fonterra was sticking to its $6 payout was probably the best bit of news the New Zealand dollar has had for a while, so we got a bit of a relief rally."
A short time ago, the Kiwi was trading at 83.64 US cents, up from 83.44 cents this time yesterday, at 89.73 Australian cents, 50.53 British pence, 0.6353 euro, 87 yen and 5.14 renminbi.
