New Zealand Stocks Edge Higher in Morning Trade
The NZX 50 climbed 17 points, or 0.1%, to 13,990 in Tuesday morning deals, erasing losses from the previous two sessions and tracking a rise on Wall Street overnight amid a bounce-back in AI-related stocks. Traders refocused on developments in the Middle East conflict and their impact on oil prices, while awaiting formal coalition talks following the announcement of the election results, due on November 27. Caution also built ahead of the release of China's trade data and US inflation figures later today for clues on the Fed's monetary policy decision at its upcoming meeting. Financials, consumer staples, and communication services mainly supported the index, while the tech sector and real estate capped the gains. Among the early gainers were Briscoe Group (2.1%), Chorus (2.0%), EBOS Group (1.4%), Skellerup Holdings (1.1%), Infratil (0.8%), and A2 Milk (0.5%).
The NZX 50 climbed 17 points, or 0.1%, to 13,990 in Tuesday morning deals, erasing losses from the previous two sessions and tracking a rise on Wall Street overnight amid a bounce-back in AI-related stocks. Traders refocused on developments in the Middle East conflict and their impact on oil prices, while awaiting formal coalition talks following the announcement of the election results, due on November 27. Caution also built ahead of the release of China's trade data and US inflation figures later today for clues on the Fed's monetary policy decision at its upcoming meeting.
Financials, consumer staples, and communication services mainly supported the index, while the tech sector and real estate capped the gains. Among the early gainers were Briscoe Group (2.1%), Chorus (2.0%), EBOS Group (1.4%), Skellerup Holdings (1.1%), Infratil (0.8%), and A2 Milk (0.5%).