NZX 50 Halts Decline, Ends 0.1% Higher
The NZX 50 rose 20 points, or 0.1%, to 13,831 on Monday, halting some of the losses from the morning and the previous session, mainly buoyed by gains in consumer staples, utilities, and real estate. However, the gain was limited by declines in materials, tech, and industrial sectors. Higher oil prices limited the gain after US President Trump rejected a peace deal with Iran to reopen the Strait of Hormuz. High oil prices persisted, raising inflation concerns. Recently, RBNZ Governor Anna Breman warned that inflation could be higher if high oil prices persist. Traders also anticipated the release of New Zealand business confidence for September, China’s PMI data, as well as the US PCE Index and jobs data due this week, which could provide clues about the Fed’s monetary policy decision at its upcoming meeting. Among the top movers were Delegat Group (3.5%), A2 Milk (2.7%), Meridian Energy (2.2%), ANZ Group (1.8%), and Mercury NZ (1.2%).
1%, to 13,831 on Monday, halting some of the losses from the morning and the previous session, mainly buoyed by gains in consumer staples, utilities, and real estate. However, the gain was limited by declines in materials, tech, and industrial sectors. Higher oil prices limited the gain after US President Trump rejected a peace deal with Iran to reopen the Strait of Hormuz. High oil prices persisted, raising inflation concerns.
Recently, RBNZ Governor Anna Breman warned that inflation could be higher if high oil prices persist. Traders also anticipated the release of New Zealand business confidence for September, China’s PMI data, as well as the US PCE Index and jobs data due this week, which could provide clues about the Fed’s monetary policy decision at its upcoming meeting. 2%).