NZX 50 Erases Gains, Retreats From Record High

New Zealand stocks dropped 133 points, or 1.0%, to close at 13,880 on Thursday, erasing gains in the morning session and from the previous two days, as traders took profit after the index hit a record high a day earlier. The broader index declined from the 14,000 level reached for the first time on Wednesday, supported by the materials sector. However, a rise in US stock futures following a surge in Nvidia shares after its earnings report limited the fall. Almost all sectors traded in the red, led by consumer staples. Precinct Properties NZ plunged 4.3% after its earnings report. Other bottom performers were A2 Milk (-3.4%), Meridian Energy (-2.7%), EBOS Group (-1.3%), Infratil (-1.3%), ANZ Group (-1.2%), and Fisher & Paykel (-1.0%). Meanwhile, Genesis Energy rose 1.8% after reporting higher earnings, though profit was halved due to a valuation hit. Summerset Group surged 8.0% after reporting a 92% surge in net profit for the six months ended June 30, 2026.

New Zealand stocks climbed 29 points, or 0.2%, to 14,042 in Thursday morning trading, up for the third consecutive session, tracking a rise in US stock futures following a surge in Nvidia shares after its earnings report. The broader index hit a fresh record high after surpassing 14,000 for the first time on Wednesday, supported by the materials sector. Optimism over earnings reports continued to lift sentiment, with some set to announce their results today, including Genesis Energy and Summerset Group. Traders tried to capitalize on the momentum, with gains in energy, healthcare, utilities, and consumer discretionary. Among early gainers were EBOS Group (2.9%), Chorus (0.8%), Turners Automotive (0.6%), and ANZ Group (0.5%). Meanwhile, Genesis Energy rose 1.1% ahead of its earnings release, while Summerset Group jumped 4.2% after reporting a 92% surge in net profit for the six months ended June 30, 2026.

New Zealand stocks rose 20 points, or 0.2%, to close at a record high of 14,013 on Wednesday, halting weakness in morning trade and extending gains in the previous session, mainly buoyed by gains in materials, consumer staples, and tech sectors. The broader index surpassed 14,000 for the first time, with the materials sector surging 2.8%, supported by a jump in Vulcan Steel (4.8%) after reporting a 20% rise in earnings per share for the fiscal year ended June 30, 2026. Optimism over earnings reports continued to lift sentiment as some companies will announce their results on Thursday and Friday. An upbeat session on Wall Street overnight also fueled sentiment, buoyed by strong tech sectors, easing oil prices, and lower US Treasury yields. Other top gainers were Colonial Motor (3.0%), A2 Milk (2.4%), and Fletcher Building (2.1%). Meanwhile, Meridian Energy fell 1.7%, despite posting a net profit for the 12 months ended June, rebounding from a loss in the same period of 2025.