NZX Erases Morning Losses, Ends at Record High

2026-07-23 06:01 By Chusnul Chotimah 1 min. read

New Zealand's stocks rose 32 points, or 0.2%, to close at 13,795 on Thursday, reversing morning weakness to post a second consecutive gain and hit a record high, buoyed by energy, materials, and consumer discretionary stocks.

The energy sector surged 4.6%, with Channel Infrastructure NZ, a world-class operator of energy infrastructure across New Zealand and Australia, jumping 4.6% on optimism over its fuel storage project.

However, a decline in US futures, following a downbeat session on Wall Street overnight, capped the gains ahead of the start of the earnings season for mega-cap tech companies.

Persistently high oil prices also pressured sentiment as inflation concerns fueled expectations of further interest rate hikes.

Tuesday's data showed that New Zealand's inflation rate accelerated to its highest level since Q4 2023 in Q2.

Other top performers were Freightways Group (3.2%), Hallenstein Glasson (2.8%), Westpac Banking Corp (2.0%), ANZ Group (1.9%), and Meridian Energy (1.8%).



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NZX Erases Morning Losses, Ends at Record High
New Zealand's stocks rose 32 points, or 0.2%, to close at 13,795 on Thursday, reversing morning weakness to post a second consecutive gain and hit a record high, buoyed by energy, materials, and consumer discretionary stocks. The energy sector surged 4.6%, with Channel Infrastructure NZ, a world-class operator of energy infrastructure across New Zealand and Australia, jumping 4.6% on optimism over its fuel storage project. However, a decline in US futures, following a downbeat session on Wall Street overnight, capped the gains ahead of the start of the earnings season for mega-cap tech companies. Persistently high oil prices also pressured sentiment as inflation concerns fueled expectations of further interest rate hikes. Tuesday's data showed that New Zealand's inflation rate accelerated to its highest level since Q4 2023 in Q2. Other top performers were Freightways Group (3.2%), Hallenstein Glasson (2.8%), Westpac Banking Corp (2.0%), ANZ Group (1.9%), and Meridian Energy (1.8%).
2026-07-23
New Zealand Equities Track Wall Street Lower
The NZX 50 dropped 52 points, or 0.4%, to 13,711 in Thursday morning deals, halting the gains of the previous session and pulling back from its highest level since July 9, reached a day earlier, tracking a decline in US futures following a downbeat session on Wall Street overnight ahead of the start of earnings season for mega-cap tech companies. Persistently high oil prices also pressured sentiment as inflation concerns fueled expectations of further interest rate hikes, after the RBNZ raised its cash rate by 25 bps earlier this month. Tuesday's data showed that New Zealand's inflation rate accelerated to the highest level since Q4 2023 in Q2. Healthcare, consumer staples, and industrial stocks mainly weighed on the index, with early losers including Gentrack Group (-4.4%), Hallenstein Glasson (-1.0%), Ventia Services (-0.7%), Auckland International Airport (-0.6%), and Fisher & Paykel (-0.5%). Meanwhile, SkyCity Entertainment rose 0.8% after surging 12.8% in the previous session.
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NZX 50 Ends 0.8% Higher as Consumer Stocks Rally
The NZX 50 advanced 107 points, or 0.8%, to close at 13,763 on Wednesday, hitting its highest level since July 9 and erasing losses from the previous session, mainly supported by gains in consumer discretionary, materials, healthcare, and financial stocks. Consumer discretionary surged 3.8%, buoyed by SkyCity Entertainment, which jumped 12.8% following upgraded earnings forecasts and positive revenue reports. Meanwhile, My Food Bag Group gained 3.6%. Traders shrugged off Wednesday's data, which showed that New Zealand's inflation rate accelerated to the highest level since Q4 2023 in the second quarter (Q2). However, persistently high oil prices capped the gains as inflation concerns fueled expectations of further interest rate hikes, while RBNZ Chief Economist Paul Conway recently warned that sticky inflation could prompt further monetary policy tightening. Among the other top performers were Fisher & Paykel (1.8%), Ryman Healthcare (1.8%), Infratil (1.5%), and A2 Milk (1.3%).
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