The NZX 50 rose 76 points, or 0.6%, to close at 12,902 on Thursday, paring stronger early-session gains but breaking a losing streak from the previous day. The advance came as traders widely expect the RBNZ to leave the Official Cash Rate unchanged next week, even as oil prices climb. The central bank is projected to keep rates on hold for a second consecutive meeting at 2.25%, the lowest level since mid-2022. Sentiment was also supported by a ministerial reshuffle announced by the prime minister.
Most sectors finished in positive territory, including energy, consumer staples, financials, and materials. Gains were constrained, however, after US President Trump said Washington would hit Iran “extremely hard” within the next two to three weeks. Among individual names, Ebos Group climbed 4.7%, A2 Milk added 2.2%, Contact Energy gained 1.7%, Hallenstein Glasson rose 1.4%, and Chorus advanced 1.1%. Despite Thursday’s uptick, the benchmark ended the week down 0.3%, posting a fifth straight weekly decline amid ongoing worries over tensions in the Middle East.