The NZX 50 rose 25 points, or 0.2%, to 13,716 in Thursday morning trading, extending a modest gain from the previous session as both the RBNZ and the Federal Reserve kept interest rates on hold. Upside momentum was limited, however, as traders remained cautious in the wake of the RBNZ’s latest decision and growing signals that a rate hike is possible at the next meeting, with higher oil prices adding to inflation risks.
On Tuesday, the central bank unexpectedly left the official cash rate unchanged at 2.75% in a split decision, while signalling that further tightening remains on the table to contain rising inflation. Sentiment was also restrained ahead of business confidence figures due later today, after September’s reading fell to a three‑month low.
Sector-wise, energy, healthcare, and real estate led the advance. Notable early movers included Freightways Group (up 2.8%), Channel Infrastructure (0.9%), Fisher & Paykel Healthcare (0.6%), Infratil (0.6%), and A2 Milk (0.5%).