NZ shares up broadly on dollar weakness, TradeMe and A2 gain while Fonterra sinks

The S&P/NZX50 Index rose 70.42 points, or 0.8 percent, to 9,010.61. Within the index, 40 stocks rose, seven fell and three were unchanged. Turnover was $111 million.

Greg Easton, investment adviser at Craigs Investment Partners, said it was a fairly positive day for the benchmark index, with yesterday's boost from the weaker New Zealand dollar following the more dovish than expected official cash rate outlook from the Reserve Bank carrying over.

"Some of the biggest movers are the dual-listed NZ-Australia stocks. It could be that Australian investors are seeing a bit of value with the Aussie dollar buying $1.11 versus under $1.10 a couple of days ago," Easton said.

The notable exception to today's strength was Fonterra Shareholders Fund units, down 2.5 percent to $4.98. Fonterra Cooperative Group doesn't expect to pay a final dividend this year, as it bolsters its balance sheet after paying Danone over the 2013 botulism scare and writing down its Beingmate Baby & Child Food investment.