Sky TV leads gains for second day

The S&P/NZX 50 Index increased 36.18 points, or 0.3 percent, to 11,895.63. Within the index, 30 stocks rose, 16 fell and four were unchanged. Turnover was $125.8 million.

“It’s been a predictably quiet start to the week with US markets out for the Labor Day holiday and not much in the way of new news released,” Mike Jones, an ASB economist said.

However, a bounce in European equity markets and US futures rising half a percent gave local investors the confidence to do some buying.

“European markets were open and reasonably buoyant last night and that’s flowing through to New Zealand,” said Grant Davies, an investment adviser at Hamilton Hindin Greene.