The NZX 50 index reacted positively on Thursday morning to a cut in the Official Cash Rate by the Reserve Bank.
By 12.15pm, it was up 59-points or 1.8% to 3260 on turnover of $45 million.
Telecom was down 2 cents $3.48. Fletcher Building was up 24c to $6.79
Contact Energy was up 21c to $8.35.
New Zealand Oil & Gas was down 3c to $1.51.
Auckland International Airport Ltd was up 5c to $1.86.
The Warehouse was up 5c to $3.95.
In currency markets, the New Zealand dollar fell following the Reserve Bank's announcement, but has since reclaimed some ground.
By 12.15pm, it was trading at US74.38 cents, 77.46 Australian cents, 37.22 pence, 80.21 yen, and 0.4742 euro. The Trade Weighted Index was at 66.38.
However, the Australian stock market opened lower - despite minor gains on Wall Street.
At 1030 AEST, the benchmark S&P/ASX200 index fell 4.8 points, or 0.09%, to 5,100.5. The broader All Ordinaries dipped 10 points, or 0.19%, to 5,151.6.
The September share price index futures contract fell 13 points to 5,088, on a volume of 6,388 contracts.
Other markets
The Dow Jones rose 29.88, or 0.26% , to 11,632.38 on Wednesday.
Standard & Poor's 500 index rose 5.19, or 0.41%, to 1,282.19 and the Nasdaq composite index rose 21.92, or 0.95%, to 2,325.88.
Trading was moderate on the New York Stock Exchange, with about 1.7 billion shares changing hands. About 2.69 billion shares were traded on the Nasdaq.
European shares ended more than 2% higher. The FTSEurofirst 300 index of top European shares closed 2.06% higher at 1,188.99 points.
Across Europe: Germany's DAX rose 1.45% and France's CAC jumped 1.9%.
In Britain, the FTSE 100 ended up 85.8 points, 1.6%, at 5,449.9. The index is still down 15.5% to date this year.
