Solid results from two media firms and renewed buying interest in forest products company Carter Holt Harvey Ltd (CAH.NZ) helped New Zealand shares close higher on Wednesday. The NZSE-40 Capital Index finished up 10.19 points or 0.5 percent at 1,953.86 on above-average turnover worth NZ$80.5 ($44 million). The benchmark index reached its highest closing level since February 11 after number two ranked stock Carter Holt powered up five cents or nearly three percent to NZ$1.76, its biggest one-day rise in four weeks. "We had some encouraging figures for pulp prices last week. It's taken a couple of days for this to filter through to casual interest," said First NZ Capital broker Malcolm Davie. Davie said that investors were also buying Carter Holt as an international cyclical stock as the New Zealand economy slowed from its current growth rate of around four percent a year. Forestry company Fletcher Challenge Forests (FFS.NZ) topped the turnover table with more than 10.2 million changing hands, adding nearly three percent to its share price. New Zealand bio-technology concern Rubicon Ltd (RBC.NZ) said after the market closed that it had increased its stake in FCL Forests (FFS.NZ) to 19.997 percent, from 17.7 percent. It had bought 13.1 million shares in FCL Forests at an average price of NZ$1.10 a share - FCL Forest's closing price - for a total cost of NZ$14.4 million. Shares in publisher Independent Newspapers Ltd (INL.NZ) and its listed pay television subsidiary Sky Network Television (SKY.NZ) climbed as they reported first-half results, described by brokers as good. INL reported a net profit after tax of NZ$38.8 million, compared with NZ$27.1 million a year earlier. Sky, two-thirds owned by INL, posted a NZ$4.37 million loss, down from the previous corresponding period's NZ$13.2 million deficit. INL closed 11 cents or 3.6 percent higher at NZ$3.16 while Sky rose eight cents or 2.2 percent to NZ$3.68. The top-40 index was also supported by a five cent or 0.9 percent recovery in beaten-down former market darling The Warehouse Ltd (WHS.NZ). New Zealand's biggest retailer climbed to NZ$5.80, further off an 18-month low of NZ$5.50 plumbed last week. The stock has lost nearly a fifth of its value since reporting lower-than-expected second quarter sales two weeks ago. Vertex Group Holdings Ltd (VTX.NZ), the subject of a corporate play by former Air New Zealand (AIR.NZ) chairman Sir Selwyn Cushing and interests associated with South Island businessman George Gould, had a heavy day's turnover with 3.3 million shares changing hands. It rose seven cents or 4.4 percent to NZ$1.65. Market heavyweight Telecom Corp of NZ (TEL.NZ) slipped two cents to NZ$4.52 on solid volume of 4.8 million shares.