The New Zealand sharemarket's benchmark NZSX-50 index climbed through the 3000 level for the first time in 9-1/2 months in early trading today.
The index has risen for the previous 10 consecutive trading days from a low below 2740. Around 10.15am it was up 6.67 points to 3004.68, having gained 36.8 points yesterday.
Shares rising 5c early today included Contact Energy to 624, Port of Tauranga to 645, and Air New Zealand to 103.
Sanford, which is buying marine farms in the Marlborough Sounds from Sealord for $23.4m, rose 5c to 530, on top of a 5c gain yesterday.
Sky TV gained 3c to 439, The Warehouse was up 3c to 392, Goodman Property Trust added 2c to 100, Sky City was up 2c to 315, and Fisher & Paykel Appliances rose 2c to 88.
NZ Refining Co slipped 6c to 759, after rising 15c yesterday amid speculation US refiner Valero was looking at the company at a time when major oil company shareholders are considering exiting.
Fisher & Paykel Healthcare dropped 4c to 315, Fletcher Building was down 4c to 725, and NZ Farming Systems Uruguay lost 2c to 44.
Leading stock Telecom was unchanged early at 286, after rising 6c yesterday.
In the US, stocks rose slightly in a late rally as investors rotated into financial shares, which had lagged in the recent two-week run-up.
Upbeat data on new home sales underpinned financial stocks, the session's strongest sector, and prompted investors to snap up the shares of several regional banks, which had been among the worst hit by credit losses tied to a weak housing market.
The Dow Jones industrial average rose 0.2 percent to close at 9108.51, the Standard & Poor's 500 Index gained 0.3 percent to 982.18, and the Nasdaq Composite Index added 0.1 percent to end at 1967.89.
