The NZX 50 rose 50 points, or 0.4%, to close at 13,546 on Monday, rebounding from early losses after ending flat in the prior session. The advance was led by consumer non-durables, health technology, miscellaneous, and transportation stocks, while weakness in utilities and communication services limited overall gains.
Market sentiment remained cautious ahead of New Zealand’s June consumer and business confidence releases, with both indicators still subdued in May despite modest month-on-month improvement. Investors were also awaiting China’s June PMI figures and US employment data to better assess the economic outlook in the world’s second- and largest economies.
Rising oil prices heightened inflation concerns, weighing on risk appetite and reinforcing expectations of a potential interest rate hike. Notable gainers included A2 Milk (+3.0%), Fisher & Paykel (+2.0%), Mainfreight (+1.8%), Gentrack Group (+1.6%), Infratil (+0.8%), and Auckland International Airport (+0.8%).
