NZX 50 Closes Higher, Snaps Two-Week Losing Streak

The NZX 50 climbed 136 points, or 1.1%, to close at 13,039 on Friday, erasing losses in morning trade and gaining for the third straight session, tracking a rally on Wall Street on Thursday, supported by solid first-quarter earnings reports. The broader index hit its highest level since April 16, mainly boosted by real estate, consumer staples, industrials, and financials. However, disappointing New Zealand economic data capped the gains, with consumer confidence plunging to its lowest level since May 2023 in April, following Thursday’s data, which showed business sentiment fell into negative territory for the first time since August 2023. Traders also anticipated the release of unemployment data for Q1 2026 next week, after the jobless rate hit its highest level since Q3 2015 in Q4 2025. Among top movers were Mainfreight (3.4%), A2 Milk (2.7%), Infratil (2.3%), and Westpac Banking Corp. (1.9%). For the week, the index rose 1.3%, the first increase in three weeks.

The NZX 50 dropped 15 points, or 0.1%, to 12,889 on Friday morning deals, halting gains from the previous two sessions, mainly dragged down by energy, materials, and consumer discretionary stocks. Traders were cautious after fresh data showed New Zealand's consumer confidence plunged to its lowest level since May 2023 in April, following Thursday's data, which revealed business sentiment in the country fell into negative territory for the first time since August 2023. Traders also anticipated the release of unemployment data for Q1 2026 next week, after the jobless rate hit its highest level since Q3 2015 in Q4 2025. However, a rally on Wall Street overnight capped the fall, mainly boosted by earnings reports from major tech stocks. Among early losers were Port of Tauranga (-1.2%), Meridian Energy (-0.5%), Auckland International Airport (-0.4%), Chorus (-0.3%), and Delegat Group (-0.3%). For the week, the index is heading for a 0.1% rise, the first increase in three weeks.

The NZX 50 rose 133 points, or 1.0%, to close at 12,903 on Thursday, reversing earlier losses in morning trade and extending gains from the previous session, with all sectors trading in the green, led by real estate. The broader index tracked gains in US futures following earnings reports from some major tech stocks. PMI data from China, New Zealand's top trading partner, also lifted sentiment, with a private survey showing factory activity on the mainland grew at its fastest pace since 2020, though official data indicated a slight easing while remaining stronger than expected. Traders also welcomed the RBNZ's efforts to enhance transparency in monetary policy decisions, beginning to publish individual votes cast by Monetary Policy Committee (MPC) members starting today. Among the top performers were Contact Energy (1.9%), Ebos Group (1.4%), F&C Investment (1.2%), ANZ Group (0.8%), and Fisher & Paykel Healthcare (0.8%). For the month, the index was flat.