NZX 50 Trades in the Green to Start the Week

The NZX 50 gained 95 points, or 0.7%, to 13,676 in Monday morning deals, erasing losses from the previous session and moving away from its lowest level since June 29, touched on Friday, mainly buoyed by gains in materials, healthcare, and financials. Fresh data lifted sentiment, as New Zealand private-sector growth remained robust, with services activity rising the most in eight months. Meanwhile, tourist arrivals hit a four-month high. However, traders were cautious ahead of the release of New Zealand’s Q2 GDP and a slew of economic data from China, New Zealand’s top trading partner, due this week. A fall in US stock futures capped the gains amid rising oil prices and AI safety concerns. Among early gainers were EBOS Group (2.3%), Fisher & Paykel (1.6%), Freightways Group (0.8%), Infratil (1.2%), and F&C Investment (0.6%).