NZX 50 closes at record above 14,000 after earnings-led gains
New Zealand’s NZX 50 rose 20 points to close at 14,013, extending gains as materials, consumer staples and tech advanced, with Vulcan Steel up 4.8% after a 20% earnings-per-share rise and more results due Thursday and Friday.
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.