New Zealand Shares Rise Further Amid Ceasefire, Summit Signals

The NZX 50 rose 48 points, or 0.4%, to close at 12,977 on Thursday, extending gains from the previous session as Wall Street advanced Wednesday, supported by renewed optimism over potential de-escalation in the Iran conflict. Risk appetite was also lifted by news that U.S. President Donald Trump will travel to Beijing on May 14–15 for a summit with Chinese leader Xi Jinping, rescheduled from March 31, amid Middle East tensions. Sector gains were led by transport, industrial services, consumer non-durables, and retail trade ahead of the March business and consumer confidence data in New Zealand. However, declines in consumer durables, producer manufacturing, and energy minerals capped strength. Among notable movers were Mainfreight Ltd. (6.4%), Hallenstein Glasson Holdings (2.7%), Delegat Group (2.1%), and Mercury NZ (2.0%). Synlait Milk slipped 1% as it lost its largest customer, a2 Milk Co., signaling weaker first-half results.

Shares in New Zealand rose 100 points or 0.8% to 13,029 in early deals on Thursday, marking gains for the second straight session following a positive lead from Wall Street on Wednesday, as traders followed the latest developments out of the Middle East, hoping for progress toward ending the war in Iran. However, advances were capped by RBNZ Governor Anna Breman's warning that the Iran war could raise near-term headline inflation and weaken New Zealand’s growth momentum. In top trading partner China, Beijing may launch countermeasures after Mexico imposed new tariffs on imports, escalating trade tensions between the two countries. Energy minerals and industrial services drove the upside, with standout performers including Hallenstein Glasson (1.6%), Scott Technology (1.3%), Summerset Group (1.1%), and Mainfreight Ltd. (0.6%). Traders now await the release of New Zealand's business and consumer confidence data for March, scheduled for Friday.

The NZX 50 jumped 227 points, or 1.8%, to close at 12,929 on Wednesday, ending a four-session losing streak as bargain hunters returned after the index hit an eight-month low a day before. Sentiment improved amid a rally in U.S. stock futures and hopes for progress in resolving the Middle East conflict, after President Trump said Iran wants to “make a deal” and confirmed a U.S. 15-point plan was sent to Tehran. In China, New Zealand's main trading partner, Beijing urged Washington to maintain stable and sustainable trade ties despite ongoing frictions. However, caution emerged ahead of New Zealand’s March business and consumer sentiment data due later this week. Meanwhile, RBNZ Governor Anna Breman cautions that the Iran war to raise near-term headline inflation and weaken New Zealand’s growth momentum. Gains were almost broad-based, led by healthcare, utilities, and transport. Standouts included EBOS Group (4.4%), Infratil (3.5%), Sanford (2.9%), and Fisher & Paykel Healthcare (2.8%).