FX.co ★ New Zealand Stocks Extend Gains, Finish 0.5% Higher

The NZX 50 advanced 63 points, or 0.5%, to close at 13,783 on Wednesday, extending the previous session’s gains, with the move largely driven by strength in communication services, utilities, and healthcare stocks. Investors largely looked past the latest labour market data, even as the unemployment rate unexpectedly climbed to an 11-year high of 5.7% in Q3 2026, up from 5.6% in Q2 and contrary to market expectations for a fall to 5.5%. The benchmark also took its cue from a positive session on Wall Street, where AI-related stocks rebounded, although the upside was capped by higher oil prices. Market participants continued to watch early voting in New Zealand ahead of the 7 November general election, with nearly 1 million ballots cast in the first week, as well as developments around the US midterm elections. On the corporate front, notable gainers included Meridian Energy (up 2.8%), Freightways Group (1.5%), Mercury NZ (1.4%), Brisco Group (1.4%), Fisher & Paykel (1.2%), Delegat Group (1.2%), and Contact Energy (0.7%).