FX.co ★ New Zealand Equities Inch Higher to Begin New Week

Shares in New Zealand rose modestly by 13 points, or 0.1%, reaching 12,866 during Monday morning trades, marking potential gains for the third consecutive session. This increase was driven mainly by sectors such as consumer durables, consumer services, and industrial services. Investor sentiment improved following a surge in U.S. futures, triggered by President Trump's announcement of a trade agreement with the EU, which involves lowering tariffs on most imports to 15% from the previously planned 30%. Additionally, positive developments in the U.S.-China trade relations bolstered risk appetite. The South China Morning Post reported that both nations are likely to prolong their tariff truce by an additional three months leading up to a third round of negotiations scheduled for this week. Nonetheless, gains were limited due to investor caution ahead of earnings reports from major U.S. tech companies, a significant Federal Reserve meeting, President Trump’s tariff deadline on August 1, and forthcoming U.S. inflation figures. On the domestic front, investors anticipated the release of July's business and consumer confidence data, expected later this week. Among the prominent gainers were Scott Technology, which climbed by 3.1%, AFT Pharma, advancing by 2.2%, Restaurant Brands NZ, up by 1.3%, and Turners Automotive, which gained 1.0%.