NZX 50 Ends at Fresh Record High
The NZX 50 advanced 79 points, or 0.6%, to close at a fresh record peak of 14,259 on Thursday, extending its record run for a third straight session while tracking a rally on Wall Street overnight amid renewed optimism over AI stocks following strong results from CoreWeave. Traders maintained upward momentum, supported by strong corporate earnings from heavyweight stocks. Almost all sectors traded in the green, including consumer discretionary, energy, and communication services. Moderating oil prices also lifted sentiment as inflation concerns and expectations of interest rate hikes eased. On the data front, New Zealand's visitor arrivals annual growth accelerated in September. Mainfreight surged 5.9% after posting a strong fiscal H1 performance. Other notable gainers were Vulcan Steel (3.6%), Mercury NZ (2.4%), EBOS Group (1.9%), Chorus (1.8%), F&C Investment (1.8%), Westpac Banking Corp. (1.6%), ANZ Group (1.6%), and A2 Milk (1.2%).
The NZX 50 advanced 79 points, or 0.6%, to close at a fresh record peak of 14,259 on Thursday, extending its record run for a third straight session while tracking a rally on Wall Street overnight amid renewed optimism over AI stocks following strong results from CoreWeave. Traders maintained upward momentum, supported by strong corporate earnings from heavyweight stocks. Almost all sectors traded in the green, including consumer discretionary, energy, and communication services. Moderating oil prices also lifted sentiment as inflation concerns and expectations of interest rate hikes eased.
On the data front, New Zealand's visitor arrivals annual growth accelerated in September. Mainfreight surged 5.9% after posting a strong fiscal H1 performance. Other notable gainers were Vulcan Steel (3.6%), Mercury NZ (2.4%), EBOS Group (1.9%), Chorus (1.8%), F&C Investment (1.8%), Westpac Banking Corp. (1.6%), ANZ Group (1.6%), and A2 Milk (1.2%).