NZ shares get further lift from positive offshore markets

The S&P/NZX 50 index rose 50.37 points, or 0.6 percent, to 9,077.81. Within the index, 26 stocks rose, nine were unchanged and 15 fell. Turnover was $118.7 million.

Overnight, strong earnings from Bank of America Corp and Goldman Sachs Group boosted investor sentiment. The Dow Jones Industrial Average added 0.6 percent while the S&P 500 and the Nasdaq Composite both added 0.2 percent and the "stronger offshore leads globally are providing us with some direction," said Peter McIntyre, investment adviser at Craigs Investment Partners.

He expects the market to remain focused offshore and on US earnings in the short term, but said the focus will then shift to the domestic reporting season in February. 

Spark New Zealand was once again the most heavily traded stock with some 6.4 million shares turning over –  around 3 million more than the daily average for the past three months. It was unchanged at $4.05. It is widely held by international investors "so it has good liquidity, which is the attraction for investors, plus its yield," McIntyre said.