New Zealand shares rose, pushing the NZX 50 Index to the highest since January 2008, as optimism about stimulus efforts in the US and Europe lifted equity markets.
The NZX 50 rose 24.88 points, or 0.7 per cent, to 3817.23, the highest close since January 14, 2008. Within the index, 26 stocks rose, 17 fell and seven were unchanged.
Turnover was worth $128.7 million.
Equity markets rose across Asia, following gains in the US and Europe on Friday, after the Federal Reserve announced un-ending purchases of mortgage debt at $US40 billion ($NZ48 billion) a month.
Fletcher, the nation's biggest construction company, rose 2.1 per cent to $6.94.
Port of Tauranga gained 1.7 per cent to a record close of $12.87. The stock goes ex-dividend for its 27 cents final payment on September 19.
Fisher & Paykel Healthcare, which counts the US as its biggest market, rose 2.4 per cent to $2.16.
Fisher & Paykel Appliances rose 1.3 per cent to $1.19, or 1 cent below the offer from Haier to acquire the 80 per cent of the home appliance maker it doesn't already own.
OceanaGold, the operator of the Macraes gold field, rose 4.7 per cent to $3.82. Spot gold rose to $US1,775.04 an ounce, the highest since February, as the Fed's move spurred investors to seek gold as an investment.
PGG Wrightson, the nation's largest rural services company, rose 2.7 per cent to 38 cents. Haier's offer for F&P Appliances has stoked speculation Wrightson may come into play as it is 50.01 per cent owned by China's Agria.
NZ Oil & Gas fell 2.9 per cent to 84 cents. Michael Hill International, the jewellery chain, declined 2.5 per cent to $1.16.
Warehouse Group rose 0.8 per cent to $2.92 after purchasing Insight Traders for an undisclosed sum to improve its product sourcing capabilities.
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