NZX 50 Rebounds, Finishes at 3-Week High

2026-05-04 05:38 By Chusnul Chotimah 1 min. read

The NZX 50 rose 58 points, or 0.5%, to close at 13,098 on Monday, reversing morning weakness and marking its fourth straight session of gains, mainly supported by materials, healthcare, communication services, and tech stocks.

The broader index hit its highest level since April 10, tracking a rise in US futures following a rally on Wall Street on Friday, supported by solid Q1 earnings reports.

A statement from US President Donald Trump also lifted sentiment after he said the US would act to ensure safe passage for ships through the Strait of Hormuz.

However, a plunge in consumer staples (-6.4%) capped the overall gain, largely due to a drop in A2 Milk shares.

A2 Milk plunged 9.6% following a voluntary recall of A2 Platinum infant formula in the US due to potential cereulide toxin contamination.

Top performers included Freightways (4.3%), Fisher & Paykel (1.7%), Auckland International Airport (1.0%), Infratil (0.9%), Mainfreight (0.8%), ANZ Group (0.6%), and Ebos Group (0.6%).



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