The NZX 50 rose 19 points, or 0.1%, to 13,699 on Monday, snapping a two-day losing streak and rebounding from its lowest level since September 15, reached in the prior session. The move followed gains on Wall Street on Friday after a weaker-than-expected US jobs report tempered expectations of further interest rate hikes by the Federal Reserve.
Softer oil prices also supported sentiment, easing worries about inflation and additional monetary tightening. Sector-wise, the broader index was led higher by materials, financials, and healthcare, while declines in consumer staples, utilities, and industrials limited overall gains.
Investors were also looking ahead to the release of the FOMC minutes later this week. Among the notable movers were Colonial Motor (+4.8%), Fisher & Paykel (+1.3%), Westpac Banking Corp. (+1.0%), FC Investment (+1.0%), ANZ Group (+0.8%), Infratil (+0.8%), and Channel Infrastructure (+0.6%).
