FX.co ★ NZX 50 Ends 1% Higher Ahead of Inflation Data

The NZX 50 rose 130 points, or 1.0%, to close at 13,761 on Wednesday, reversing losses from the previous three sessions and rebounding from its lowest level since September 16, reached just a day earlier. The advance came ahead of Thursday’s release of Q3 inflation figures, with markets expecting price pressures to ease on both an annual and quarterly basis.

Sentiment was further supported by declining Treasury yields and softer oil prices, which helped temper inflation worries and concerns about additional rate hikes following the Reserve Bank of New Zealand’s back-to-back increases in July and September. The broader index also followed gains in US stock futures as investors digested a fresh round of corporate earnings.

Sector-wise, materials, financials, communication services, healthcare, and industrials led the move higher. Notable performers included Ebos Group (+5.5%), Vulcan Steel (+5.2%), Mainfreight (+3.2%), Fletcher Building (+3.1%), Westpac Banking Corp. (+1.9%), ANZ Group (+1.3%), Freightways (+1.2%), and Fisher & Paykel (+0.7%).