FX.co ★ Stocks in New Zealand Rise Slightly

On Tuesday morning, the NZX 50 index experienced a rise of 24 points, or 0.2%, reaching 12,935 during a session characterized by volatility. This marked the fourth consecutive session of gains, fueled by strong performances in the industrial services, communications, and energy minerals sectors. Investor sentiment was bolstered by record-high closings on Wall Street's S&P 500 and Nasdaq on Monday, following the announcement of a trade agreement between the U.S. and EU that alleviated global risk concerns. Additionally, the resumption of trade discussions between the U.S. and China led to increased expectations for a 90-day extension of their tariff truce. President Trump noted that the baseline global tariff rate is expected to fall “in the range of 15 to 20%.” Concurrently, optimism that the U.S. Federal Reserve might maintain interest rates this week prompted investors to initiate new positions. Nevertheless, further gains were tempered by apprehension ahead of crucial business and consumer confidence data set to be released in New Zealand later this week. Among the early outperformers were Spark NZ with a 2.4% rise, Third Age Health Services up by 2.3%, South Port NZ increasing by 2.0%, and PGG Wrightson rising by 1.8%.