The NZX 50 rose 41 points, or 0.3%, to 13,269 in Thursday morning trade, extending the previous session’s gains and mirroring a rally in the S&P 500 and Dow Jones on Wall Street overnight amid hopes of a US–Iran peace deal. Sentiment was further buoyed by easing oil prices, which helped temper inflation concerns in fuel‑import‑dependent New Zealand.
Confidence also improved after a senior central banker said the peak in interest rates would depend on how much weaker demand, driven by higher energy costs, restrains broader price pressures. That followed the Reserve Bank of New Zealand’s decision on Wednesday to leave the official cash rate unchanged. RBNZ Governor Anna Breman told Morning Report that the cash rate is expected to rise to 3.0% or 3.25% in the future.
Gains were led by industrials, healthcare, and technology stocks, with notable advances from Mainfreight (up 7.4%), Gentrack Group (2.4%), South Port NZ (1.7%), Ebos Group (0.8%), Henderson Far East (0.8%), and ANZ Group (0.4%).