NZX 50 Nears 4-Month High, Set for Quarterly Gains

2026-06-29 22:52 By Chusnul Chotimah 1 min. read

The NZX 50 rose 41 points, or 0.3%, to 13,586 in Tuesday morning trade, extending gains from the previous session and hitting its highest level since March 2, tracking a rally on Wall Street overnight as traders reassessed the AI trade following the recent selloff while US-Iran tensions eased.

Easing oil prices also lifted sentiment as inflation concerns eased, reducing expectations of an interest rate hike.

Gains in the technology, utilities, financials, and consumer staples sectors mainly supported the broader index.

However, traders were cautious ahead of the release of New Zealand's consumer and business confidence data for June, due later this week, as well as China's PMI data and US jobs data for June, which will help gauge the economic outlook in the world's largest and second-largest economies.

Among early gainers were Gentrack Group (1.3%), A2 Milk (1.1%), F&C Investment (1.0%), and Contact Energy (1.0%).

For the quarter, the index is on track for a 5.2% gain.



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NZX 50 Nears 4-Month High, Set for Quarterly Gains
The NZX 50 rose 41 points, or 0.3%, to 13,586 in Tuesday morning trade, extending gains from the previous session and hitting its highest level since March 2, tracking a rally on Wall Street overnight as traders reassessed the AI trade following the recent selloff while US-Iran tensions eased. Easing oil prices also lifted sentiment as inflation concerns eased, reducing expectations of an interest rate hike. Gains in the technology, utilities, financials, and consumer staples sectors mainly supported the broader index. However, traders were cautious ahead of the release of New Zealand's consumer and business confidence data for June, due later this week, as well as China's PMI data and US jobs data for June, which will help gauge the economic outlook in the world's largest and second-largest economies. Among early gainers were Gentrack Group (1.3%), A2 Milk (1.1%), F&C Investment (1.0%), and Contact Energy (1.0%). For the quarter, the index is on track for a 5.2% gain.
2026-06-29
NZX 50 Rebounds, Closes Up 0.4%
The NZX 50 climbed 50 points, or 0.4%, to close at 13,546 on Monday, reversing morning weakness after being flat in the previous session and hitting its highest level since March 4, mainly buoyed by gains in consumer non-durables, health technology, miscellaneous, and transportation. However, declines in utilities and communication services capped the gains. Traders also remained cautious ahead of the release of New Zealand's consumer and business confidence data for June, due later this week, as well as China's PMI data and US jobs data for June, which will help gauge the economic outlook in the world's largest and second-largest economies. Rising oil prices added to inflation concerns, further weighing on sentiment and raising expectations of an interest rate hike. Among the top gainers were A2 Milk (3.0%), Fisher & Paykel (2.0%), Mainfreight (1.8%), Gentrack Group (1.6%), Infratil (0.8%), and Auckland International Airport (0.8%).
2026-06-29
New Zealand Shares Lower to Start the Week
The NZX 50 dropped 50 points, or 0.4%, to 13,445 in Monday morning trade, after being flat in the previous session, tracking a decline on Wall Street on Friday, with chipmakers leading the sell-off. Traders remained cautious ahead of the release of New Zealand's consumer and business confidence data for June, as both indicators remained subdued in May despite improving from a month earlier. Investors also anticipated the release of China's PMI data and US jobs data for June to help gauge the economic outlook in the world's largest and second-largest economies. Rising oil prices added to inflation concerns, further weighing on sentiment and raising expectations of an interest rate hike. Utilities, communication services, electronic technology, and financials mainly weighed on the index, with notable losses from Auckland International Airport (-1.1%), Meridian Energy (-1.0%), Freightways Group (-0.8%), Infratil (-0.7%), and Port of Tauranga (-0.3%).
2026-06-28