FX.co ★ NZX 50 Ends 0.7% Higher, Hits New Record High

New Zealand stocks rose 94 points, or 0.7%, to close at 13,997 on Wednesday, marking a third straight session of gains. The advance was led by healthcare, industrials, and materials, and pushed the broader index to a record high. The market tracked an overnight rally on Wall Street, driven by robust corporate earnings and lower oil prices.

Further declines in oil prices, amid optimism over US–Iran peace talks, also supported risk appetite. Softer inflation concerns helped temper expectations of an imminent interest rate hike.

Sentiment was additionally boosted by domestic labor-market data. New Zealand’s unemployment rate rose to 5.6% in Q2, the highest since Q3 2015, reinforcing expectations that the Reserve Bank of New Zealand may move to cut interest rates, even as inflation accelerated to 4.1% in Q2—its fastest pace since Q4 2023 and above the central bank’s 1%–3% target band.

Among the notable gainers were Ebos Group (+2.4%), Freightways Group (+2.4%), Fisher & Paykel (+1.7%), A2 Milk (+1.3%), Auckland International Airport (+1.2%), and ANZ Group (+0.5%).