NZX 50 Holds at 3-Week High at Close

The NZX 50 rose 20 points, or 0.2%, to close at 13,274 on Thursday, gaining for the fourth straight session, though easing from earlier gains amid a fragile US-Iran ceasefire. The broader index remained at its highest level since March 18, when US President Trump announced a two-week ceasefire between the US-Israel coalition and Iran on Wednesday. Sentiment was also lifted by a statement from RBNZ Governor Anna Breman that the economy is still expected to grow in 2026 if the ceasefire in the Middle East holds. The central bank held its cash rate steady at 2.25% for the second consecutive meeting on Wednesday, reaffirming its commitment to returning inflation to the midpoint of the 1–3% target range. Financials led the advance, followed by consumer staples, consumer discretionary, and healthcare. Top performers included Sanford (4.0%), Infratil (1.7%), A2 Milk (1.3%), Fisher & Paykel Healthcare (1.0%), and Summerset Group (1.0%).

The NZX 50 climbed 80 points, or 0.6%, to 13,334 in Thursday morning trade, gaining for the fourth straight session and marking its highest level since March 6. The broader index followed a rally on Wall Street overnight, as investors remained optimistic that a two-week ceasefire between Iran and the US will hold. RBNZ Governor Anna Breman stated that the economy is still expected to grow in 2026 if the ceasefire in the Middle East holds, which also lifted sentiment. Wednesday’s RBNZ decision to hold the interest rate at 2.25% continued to support sentiment. Most sectors traded in the green, including industrials, consumer staples, and real estate. However, FOMC minutes capped the gains as the Fed signaled additional increases if inflation persists. Traders also awaited the US March inflation data due later this week. Among the early gainers were Freightways Group (3.0%), Auckland International Airport (2.5%), Ebos Group (1.1%), and A2 Milk (0.9%).

The NZX 50 rose 184 points, or 1.4%, to close at 13,254 on Wednesday, gaining for the third straight session, following a rally in US futures after US President Trump announced a two-week ceasefire between the US-Israel coalition and Iran. Sentiment was also lifted by the RBNZ's decision to hold the interest rate at 2.25%, keeping borrowing costs at their lowest level since mid-2022, amid concerns about inflation and the toll of soaring energy prices on the economy. The broader index remained at its highest level since March 18, supported by gains across almost all sectors. Materials led the advance, followed by industrials, financials, technology, and real estate. Top performers included Freightways Group (4.3%), Westpac Banking Corp. (3.9%), ANZ Group (3.3%), Skellerup Holdings (3.3%), Auckland International Airport (3.1%), and Fisher & Paykel Healthcare (2.3%).