It was for the first time in 9-1/2 months in early trading today that the New Zealand sharemarket's benchmark NZX-50 index climbed through the 3000 level.

For the earlier 10 consecutive trading days, the index has risen from a low below 2740. It was up 6.67 points to 3004.68, at around 10.15am, after having gained 36.8 points yesterday.

"Shares rising 5c early today included Contact Energy to 624, Port of Tauranga to 645, and Air New Zealand to 103. Sanford, which is buying marine farms in the Marlborough Sounds from Sealord for $23.4m, rose 5c to 530, on top of a 5c gain yesterday," said a source.

While The Warehouse was up 3c to 392, Sky TV gained 3c to 439 and Goodman Property Trust added 2c to 100. On the other hand, Sky City was up 2c to 315, and Fisher & Paykel Appliances increased 2c to 88.

A drop was noticed in NZ Refining Co by 6c to 759, after it jumped 15c yesterday in the midst of rumors that US refiner Valero was looking at the acquisition of the company at a time when major oil company shareholders are considering the exit route.

"Fisher & Paykel Healthcare dropped 4c to 315, Fletcher Building was down 4c to 725, and NZ Farming Systems Uruguay lost 2c to 44. Leading stock Telecom was unchanged early at 286, after rising 6c yesterday," continued the source.

Industrial average increase in the Dow Jones was seen by 0.2 percent to close at 9108.51. While the Nasdaq Composite Index added 0.1 percent to end at 1967.89, the Standard & Poor's 500 Index gained 0.3 percent to 982.18.