Investors in a better mood and drive sharemarket higher

The S&P/NZX 50 Index rose 61.82 points, or half a percent, to 12,828.99. Within the index, 26 stocks rose, 17 fell and seven were unchanged. Turnover was $300.3 million.

Indices on Wall Street broke a four-day losing streak on Tuesday night, each climbing more than 1 percent as investors became more optimistic about the chance of a Brexit trade deal and a new US fiscal support package.

Director of Salt Funds Management, Matt Goodson, said the New Zealand market was following this cheerful overnight lead.