New Zealand Stocks End Little Changed
The NZX 50 was almost flat, closing at 13,700 on Tuesday after a slight rise in the previous session, as gains in the tech, real estate, and utilities sectors offset declines in consumer staples, energy, and industrials. Easing oil prices lifted sentiment, as did an improvement in business confidence. The latest New Zealand Institute of Economic Research's (NZIER) Quarterly Survey of Business Opinion showed that New Zealand's business confidence improved sharply in Q3 amid the Middle East conflict, with inflation pressures easing, steady profit expectations, and improved hiring and investment. However, caution prevailed ahead of the release of the FOMC minutes later this week. Ebos Group surged 3.5%, Brisco Group advanced 2.8%, ANZ Group rose 1.1%, Westpac Banking Corp gained 1.1%, and A2 Milk rose 1.0%, while Delegat Group, South Port New Zealand, and Hallenstein Glasson fell by 3.1%, 1.7%, and 1.5%, respectively.
The NZX 50 was almost flat, closing at 13,700 on Tuesday after a slight rise in the previous session, as gains in the tech, real estate, and utilities sectors offset declines in consumer staples, energy, and industrials. Easing oil prices lifted sentiment, as did an improvement in business confidence. The latest New Zealand Institute of Economic Research's (NZIER) Quarterly Survey of Business Opinion showed that New Zealand's business confidence improved sharply in Q3 amid the Middle East conflict, with inflation pressures easing, steady profit expectations, and improved hiring and investment.
However, caution prevailed ahead of the release of the FOMC minutes later this week. 5%, respectively.