The NZX 50 rose 38 points, or 0.3%, to 13,799 in Thursday morning trade, extending the prior session’s gains after fresh data showed inflation eased in Q3. Annual inflation slowed to 3.7% in the quarter, still above the Reserve Bank of New Zealand’s 1–3% target band but enough to temper concerns about further rate hikes following the RBNZ’s back-to-back increases in July and September.
The benchmark also mirrored overnight strength on Wall Street, buoyed by strong earnings from SpaceX and Super Micro Computer, which reinforced optimism about ongoing demand linked to artificial intelligence. At the same time, investors remained focused on geopolitical risks, closely watching the conflict in the Middle East and developments in Russia–Ukraine peace efforts for their potential impact on oil prices and the broader inflation outlook.
Gains were largely driven by financial, industrial, and real estate names. Notable movers included Infratil (up 3.7%), Auckland International Airport (1.6%), Scales Corporation (1.6%), Skellerup Holdings (1.2%), EBOS Group (0.8%), and Freightways Group (0.8%).