New Zealand equities set for weekly gain after Friday morning rise

New Zealand stocks climbed 94 points, or 0.7%, to 13,940 in Friday morning trade, after retreating in the previous session, tracking a rise on Wall Street overnight due to easing Treasury yields.

The gain was mainly supported by advances in financials, energy, materials, utilities, and healthcare.

However, traders anticipated US jobless rate data due later today, China’s consumer and producer data, as well as trade figures for August due next week.

Domestically, manufacturing PMI data will also be announced next week, after factory activity softened in July.

Among early gainers were Infratil (2.4%), Briscoe Group (1.4%), Contact Energy (1.4%), EBOS Group (0.8%), Auckland International Airport (0.7%), A2 Milk (0.6%), Fisher & Paykel (0.5%), and Freightways Group (0.5%).

For the week, the index is heading for a 1.2% rise, after falling in the previous month.