New Zealand Stocks Extend Gains, Finish 0.5% Higher

The NZX 50 rose 63 points, or 0.5%, to close at 13,783 on Wednesday, extending the previous session’s gains, mainly supported by advances in communication services, utilities, and healthcare stocks. Traders shrugged off the latest jobs data, despite unemployment unexpectedly rising to an 11-year high of 5.7% in Q3 2026, up from 5.6% in Q2 and defying market expectations for a decline to 5.5%. The broader index tracked an upbeat session on Wall Street overnight, as AI stocks rebounded, while rising oil prices limited the gains. Traders also monitored early voting in New Zealand ahead of the 7 November general election, with nearly 1 million ballots cast in the first week, as well as the US midterm elections. Among the notable gainers were Meridian Energy (2.8%), Freightways Group (1.5%), Mercury NZ (1.4%), Brisco Group (1.4%), Fisher & Paykel (1.2%), Delegat Group (1.2%), and Contact Energy (0.7%).