NZX 50 Edges Higher to Start the Week

New Zealand's stocks climbed 34 points, or 0.2%, to 13,858 in Monday morning trade, halting losses in the previous two sessions, tracking a rise on Wall Street on Friday after softer-than-expected labor data dampened expectations of a Fed rate hike at the September meeting. Positive trade data from China, New Zealand's top trading partner, with export growth remaining robust, continued to help cap the losses, while inflation eased to a six-month low. However, traders anticipated the release of US inflation data this week for clues about the Fed's monetary policy at the upcoming meeting, while they continued to monitor Strait of Hormuz developments. Materials, utilities, consumer discretionary, and real estate mainly drove the index. Contact Energy rose 1.1% after posting a 27.8% jump in net profit, following the acquisition of Manawa Energy, completed in July 2025. Other early gainers included South Port NZ (0.8%), Ebos Group (0.7%), and Port of Tauranga (0.7%).

New Zealand's stocks fell 134 points, or 1.0%, to close at 13,824 on Friday, retreating for the second consecutive session, tracking a decline on Wall Street overnight amid rising oil prices, which reinforced expectations that the Fed could raise interest rates at its upcoming meeting. Rising oil prices also pressured sentiment as concerns over inflation raised expectations that the RBNZ will hike interest rates. Caution also prevailed ahead of the US jobs data due later today and China's inflation data due on Sunday. However, positive trade data from China, with export growth remaining robust, helped cap the losses. Almost all sectors traded in the red, including industrials, energy, healthcare, and consumer staples. Among the bottom performers were Auckland International Airport (-2.5%), A2 Milk (-1.6%), Fisher & Paykel (-1.4%), Westpac Bank Corp. (-1.1%), Mainfreight (-1.0%), and ANZ Group (-0.7%). However, the index rose 0.9% for the week after falling in the previous week.

New Zealand's stocks fell 94 points, or 0.7%, to 13,864 in Friday morning deals, extending losses from the previous session, tracking a decline on Wall Street overnight amid rising oil prices, which reinforced expectations that the Fed could raise interest rates at its upcoming meeting. Traders were cautious ahead of the release of China's trade data and US jobs data later today, as well as China's inflation data due on Sunday. Rising oil prices also pressured sentiment as concerns over inflation raised expectations that the RBNZ will hike interest rates. Energy, healthcare, consumer staples, and industrials mainly weighed on the index, with the early decliners including Auckland International Airport (-2.1%), A2 Milk (-2.1%), Fisher & Paykel (-2.1%), Channel Infrastructure (-0.9%), and Smart Healthcare (-0.8%). However, the index is heading for a 1.2% weekly rise after declining in the previous week.