New Zealand shares rose on Thursday, led higher by Fletcher Building and Spark, while A2 Milk Co and Kathmandu Holdings weakened.
The S&P/NZX50 Index gained 41.74 points, or 0.5 per cent, to 8172.6. Within the index, 24 stocks rose, 14 fell and 12 were unchanged. Turnover was $145 million.
"Offshore markets didn't give us too much of a lead last night, and the market is probably just recovering from the first three days of the week, which have been pretty poor," said Grant Williamson, director at Hamilton Hindin Greene.
"The closer we get to Christmas the more the volumes will continue to fall back."
Fletcher Building led the index, up 3.2 per cent to $7.01.
"There has been a lot of interest focussed on Fletcher Building for no particular reason but its oversold position - it has bounced back up on bargain hunting," Mr Williamson said.
Spark rose 2.5 per cent to $3.64 and Air New Zealand gained 2.1 per cent to $3.225.
Kathmandu Holdings was the worst performer, down 2.1 per cent to $2.34.
A2 Milk Co dropped 1.9 per cent to $7.93. It has settled a court case in Australia with its rival Lion Group.
"That share price has got a mind of its own, the news didn't have too much of a bearing on the stock at all."
Z Energy dropped 0.8 per cent to $7.62. On Wednesday, the government said it would investigate fuel prices and is looking to increase the Commerce Commission's market studies powers by the end of next year.
"There's been a lot in the media and it has got one or two investors a little bit nervous."
Trustpower dipped 0.5 per cent to $5.95. It is eyeing up King Country Energy's retail business as it teams up with King Country Electric Power Trust to buy out the remaining minority shareholders.
Outside the benchmark index, Tegel Group fell 3.3 per cent to $1.18 and Opus was unchanged at $1.81. It will de-list from the NZX in January after being acquired by Canadian firm WSP Global.