Tuesday 25th January 2011
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Telecom shares edged up to an 11-month high as the New Zealand sharemarket started the day strongly, following a good showing by blue chips in the US.
Around 10.15am the benchmark NZX-50 index was up 14.86 points to 3367.51, having edged down less than 1 point yesterday.
Ebos (NZX: EBO ) lifted 10c to $7.50, Mainfreight (NZX: MFT ) gained 8c to a four-year high $8.10, Nuplex (NZX: NPX ) was up 2c to $3.64, Auckland Airport (NZX: AIA ) added 2c to $2.27, and Cavalier Corp (NZX: CZV ) lifted 2c to $3.20, while Restaurant Brands (NZX: RBD ) lost 4c to $2.47.
In the US, Wall Street resumed its rally, ending higher on gains by tech and natural resources shares as investors see stocks regaining the momentum lost last week.
The blue-chip Dow Jones industrial average gained 0.9% to 11,979.91, according to preliminary figures, while the Standard & Poor's 500 Index rose 0.6% to 1290.79, and the Nasdaq Composite Index 1% to 2717.55.
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