NZX 50 Hits 2-Month High, Tracking Wall Street Gains
The NZX 50 advanced 182 points, or 1.3%, to 13,965 in Thursday morning deals, extending gains from the previous two sessions and hitting its highest level since September 4, tracking a rise on Wall Street overnight after Democrats won back control of Congress. Easing oil prices also lifted sentiment as inflation and interest-rate hike concerns moderated, amid hopes of an Iran peace deal. Traders shrugged off Wednesday's 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%. Almost all sectors traded in the green, including financials, healthcare, and consumer staples. Among early gainers were Infratil (4.7%), Fletcher Building (2.8%), Westpac Banking Corp. (2.4%), Fisher & Paykel (1.9%), Mainfreight (1.5%), ANZ Group (1.5%), Ebos Group (1.0%), and Freightways Group (0.9%).
The NZX 50 advanced 182 points, or 1.3%, to 13,965 in Thursday morning deals, extending gains from the previous two sessions and hitting its highest level since September 4, tracking a rise on Wall Street overnight after Democrats won back control of Congress. Easing oil prices also lifted sentiment as inflation and interest-rate hike concerns moderated, amid hopes of an Iran peace deal. Traders shrugged off Wednesday's 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%.
Almost all sectors traded in the green, including financials, healthcare, and consumer staples. Among early gainers were Infratil (4.7%), Fletcher Building (2.8%), Westpac Banking Corp. (2.4%), Fisher & Paykel (1.9%), Mainfreight (1.5%), ANZ Group (1.5%), Ebos Group (1.0%), and Freightways Group (0.9%).