NZX 50 Heads for 7th Straight Monthly Gain

New Zealand stocks climbed 39 points, or 0.3%, to 13,807 in Monday morning trade, after retreating for the previous two sessions, mainly buoyed by communication services, consumer staples, and real estate. The broader index moved up from its lowest level since August 17, reached on Friday, ahead of the release of business confidence data for August later today, after hitting a five-month high in July. However, traders were cautious ahead of the RBNZ's monetary policy decision this week, with the market expecting the central bank to raise interest rates by 25 bps after raising them in May. Investors also continued to monitor developments in the Middle East after the US struck Iranian launchers on Larak Island. Among the early gainers were Hallenstein Glasson (2.2%), A2 Milk (1.5%), Briscoe Group (1.1%), Contact Energy (0.6%), and Meridian Energy (0.6%). For the month, the index rose 0.8%, marking the seventh straight monthly gain.

New Zealand stocks dropped 112 points, or 0.8%, to close at 13,768 on Friday, extending losses from the prior session and marking their lowest level since August 17, mainly weighed down by utilities, technology, and financials. Traders were cautious ahead of the RBNZ's monetary policy decision next week, with the market expecting the central bank to raise interest rates by 25 bps after raising them in May. Caution was also building ahead of a speech from the Fed’s chair at the Jackson Hole Symposium for clues on the central bank’s interest rate decision at its upcoming meeting. Among the biggest laggards were Infratil (-1.9%), Meridian Energy (-1.9%), and Fisher & Paykel (-0.9%). Port of Tauranga dropped 0.3% after reporting a fall in net profit. Channel Infrastructure jumped 6.9% after reporting a surge in net profit for H1 2026. Sky Network TV jumped 5.7% after reporting more than double the net profit. For the week, the index shed 1.5%, marking its first weekly decline in a month.

New Zealand stocks advanced 105 points, or 0.8%, to 13,985 in Friday morning trade, halting losses in the prior session and tracking a rally on Wall Street overnight, due to a surge in tech stocks. Optimism over earnings results, as traders continued to brace for the release of earnings reports from some companies later today, lifted sentiment. However, traders anticipated the RBNZ's monetary policy decision next week. Caution was also building ahead of a speech from the Fed’s chair at the Jackson Hole Symposium for clues on the central bank’s interest rate decision at its upcoming meeting. Energy, healthcare, and communication services mainly drove the index. Channel Infrastructure surged 3.4% ahead of the release of its earnings report, while Port of Tauranga rose 1.5% despite reporting a fall in net profit. Sky Network TV jumped 7.4% after reporting more than double the net profit. For the week, the index is heading for a muted finish after posting its third consecutive weekly gain.