FX.co ★ New Zealand Stocks Gain After US-UK Trade Deal

New Zealand's S&P/NZX 50 index saw a significant surge of 1.1%, closing at 12,605 on Friday—its highest point in over two months. This rise was driven by boosted investor confidence following U.S. President Donald Trump's announcement of a trade agreement with the United Kingdom. This development also underpinned optimism about the forthcoming U.S.-China trade discussions set to occur on Saturday in Switzerland. On the corporate landscape, nearly all large-cap companies closed with gains. Fisher & Paykel, a leader in medical devices, saw an uptick of 1.7%, while Ebos Group, a key player in pharmaceutical supply, climbed 3.3%. Utility firms, including Meridian Energy, Mercury NZ, and Contact Energy, rose by 1.6%, 2%, and 2.35%, respectively. Infrastructure investor Infratil also advanced, with a gain of 2.65%. Over the week, the NZX-50 increased by 2.25%, marking its second consecutive week of gains.