NZX 50 Halts Decline, Ends at Record High
The NZX 50 rose 12 points, or 0.1%, to close at a new record high of 14,180 on Tuesday, halting losses from the morning session and extending gains after touching a record high a day earlier, mainly buoyed by gains in the tech and financial sectors. Easing oil prices lifted sentiment as inflation concerns and expectations of interest rate hikes eased. However, traders remained cautious, awaiting the announcement of final election results in November 2027 while monitoring coalition talks. Meanwhile, Labour market leaders identified National's Simeon Brown and Labour's Barbara Edmonds as the leading candidates for Finance Minister. The names emerged after current Finance Minister Nicola Willis failed to secure a seat in Parliament. A downbeat session on Wall Street overnight also capped gains as inflation came in hotter than expected. Among the top performers were Gentrack Group (9.1%), Sanford (3.6%), Meridian Energy (2.8%), Ventia Services (2.6%), Scales Corporation (2.0%), Infratil (
The NZX 50 rose 12 points, or 0.1%, to close at a new record high of 14,180 on Tuesday, halting losses from the morning session and extending gains after touching a record high a day earlier, mainly buoyed by gains in the tech and financial sectors. Easing oil prices lifted sentiment as inflation concerns and expectations of interest rate hikes eased. However, traders remained cautious, awaiting the announcement of final election results in November 2027 while monitoring coalition talks. Meanwhile, Labour market leaders identified National's Simeon Brown and Labour's Barbara Edmonds as the leading candidates for Finance Minister.
The names emerged after current Finance Minister Nicola Willis failed to secure a seat in Parliament. A downbeat session on Wall Street overnight also capped gains as inflation came in hotter than expected. Among the top performers were Gentrack Group (9.1%), Sanford (3.6%), Meridian Energy (2.8%), Ventia Services (2.6%), Scales Corporation (2.0%), Infratil (