30 Jul 2008

Local market up 52 points

7:30 pm on 30 July 2008

The NZX 50 index rose 52 points on Wednesday to close at 3288 on turnover of $84 million.

Telecom was up 7 cents to $3.66, Contact Energy was up 12c to $8.32 and Fletcher Building was up 9c to $6.34.

Auckland International Airport was up 7c to $1.75 as Macquarie Bank disclosed it has taken a 5% stake in the airport.

The dollar was buying 73.83 US cents, 77.70 Australian cents, 37.23 pence, 79.71 yen and 0.4732 euro. The Trade Weighted Index was 66.16.

The Australian share market ended the day on a high note, led by the banks after investor confidence returned following a rally overnight on Wall Street.

The S&P/ASX200 index was up 89.2 points, or 1.84%, to 4936.7, while the All Ordinaries climbed 85.4 points, or 1.73%, to 5008.7.

The September share price index futures contract was up 88 points to 4915 on a volume of 17,443 contracts.