Reuters New Zealand
New Zealand stocks up nearly 2 pct to 4-week high
Wednesday July 23, 05:08 PM
WELLINGTON, July 23 (Reuters) - New Zealand's benchmark stock index unofficially closed up nearly 2 percent on Wednesday, close to a four week-high, spurred by investors seeking undervalued stocks and gains for Wall Street.
The NZX-50 index .NZ50 ended unofficially 57.7 points higher at 3,201.65, its highest close since June 27.
Top stock Telecom Corp (NZX: TEL.nz) gained 2.9 percent to NZ$3.50 while number two stock Contact Energy Ltd (NZX: CEN.nz) was up 0.6 percent to NZ$8.14.
U.S. stocks rose more than 1 percent as a fall in oil prices overshadowed a raft of disappointing earnings.
So far this year the NZ market has fallen around 20 percent. (NZ$1=$1.32)
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