Wednesday 2nd February 2011
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The New Zealand sharemarket rose strongly in early trading, after global stocks jumped more than 1% and safe haven assets such as bonds fell as news of strong manufacturing data worldwide lifted risk appetites, and worries about unrest in Egypt eased.
Around 10.15am the benchmark NZX-50 index was up 14.41 points to 3362.88, having yesterday ended up 9.7 points.
Newly-merged Building Society Holdings (NZX: BSH ) slipped 1c early to 87c, after debuting yesterday with an opening price of 95c
In the US, the Standard & Poor's 500 Index closed above 1300 for the first time in 2-1/2 years and looked poised for more gains due to strong earnings and a surge in US manufacturing.
Provisional closing figures put the Dow Jones industrial average up 1.3% to 12,040.16, the S&P 500 up 1.7% to 1307.51, and the Nasdaq Composite Index up 1.9% to 2751.19.
European shares posted their biggest gain in three weeks, buoyed by strong manufacturing data from both the euro zone and the US. Oil shares got a boost from rising crude prices in London.
The pan-European FTSEurofirst 300 index rose 1.4% to end at 1159.80 points.
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