FX.co ★ New Zealand Stocks Track Wall Street's Rise

On Friday, New Zealand's S&P/NZX 50 index experienced an uplift, climbing 0.5% to conclude the day at 12,767. This positive trend mirrored the robust performance of Wall Street the previous night, spurred by a jobs report that exceeded expectations, subsequently diminishing the likelihood of a Federal Reserve rate reduction in July. Meanwhile, attention remained on trade developments as the July 9 deadline for the implementation of reciprocal tariffs approached. President Donald Trump, on Thursday, revealed that letters detailing tariff rates on imports to the United States would begin distribution on Friday, indicating a departure from earlier promises to negotiate individual trade agreements. In the corporate sector, significant gains were observed in Infratil (up 3.1%), a2 Milk (rising 1.4%), Fletcher Building (increasing 1.65%), and Summerset Group (advancing 2.7%). Overall, the NZX 50 recorded a weekly increase of 1.45%, marking its third consecutive week of advancement.