New Zealand: Shares end higher supported by telecom stocks

[BENGALURU] New Zealand shares closed at three-month high on Thursday, as telcommunication firms led the way in a second day of gains for the broader index.

Taking a positive cue from Wall Street, New Zealand's benchmark S&P/NZX 50 index rose 0.3 per cent or 22.41 points to finish the session at 7,113.32.

The telecommunication services sector was the biggest gainer on the index with Spark New Zealand closing 1.4 per cent higher.

Airline operator, Air New Zealand, however, sank 3.6 per cent to its lowest since December 28.

New Zealand dollar rose to a ten-week high after the release of data showing the annual inflation rate was 1.3 per cent in the fourth quarter, slightly higher than economists'estimates of 1.2 per cent.

The Australian stock market was closed for Australia Day.

REUTERS