The NZX 50 rose 38 points, or 0.3%, to 13,104 in Friday morning trade, rebounding from losses in the previous session and tracking an overnight rally on Wall Street, where both the S&P 500 and Nasdaq closed at record highs amid optimism over easing tensions in the Middle East. Gains were broad-based, with most sectors in positive territory, including energy, consumer staples, and healthcare. Sentiment was further supported by new data showing annual food inflation eased to 3.4% in March, its lowest level since February 2025.
Investors remained cautious, however, ahead of New Zealand’s Q1 inflation and trade figures, as well as China’s upcoming interest rate decision next week. Among notable movers were Ebos Group, up 2.0%; Summerset Group, up 1.2%; Fisher & Paykel Healthcare, up 0.6%; and Mainfreight, up 0.4%, while A2 Milk slipped 1.1%. For the week, the benchmark index is on track for a 0.6% decline, following gains last week driven by the earlier escalation of the Middle East conflict.