FX.co ★ New Zealand Stocks End Higher

On Monday, the S&P/NZX 50 index increased by 0.2% to conclude at 12,603, continuing the upward momentum from the previous session. This rise was propelled by diminishing global trade negotiation risks, which favorably influenced New Zealand's export-dependent economy. Investor sentiment also improved as reflected by the ANZ Business Outlook Index, which rose to 46.3 in June from a ten-month low of 36.6 in May, marking its first increase since February. However, these gains were somewhat offset by ongoing concerns, as Chinese manufacturing experienced its third consecutive month of contraction, raising deflation worries that could impact New Zealand's export market given their strong trade relationship. Within the stock exchange, significant gainers featured Meridian Energy with a 2.3% increase, Auckland International Airport up by 1.5%, A2 Milk growing by 2.6%, and Vector Limited rising by 3.8%. Conversely, the top decliners included Fisher & Paykel, which fell by 1.4%, Mercury NZ decreasing by 1.5%, and Fletcher Building dropping by 1.7%.