FX.co ★ NZ Shares Close Slightly Higher

On Tuesday, New Zealand's S&P/NZX 50 index experienced a modest increase of 0.1%, closing at 13,425, as the market maintained a steady course ahead of an anticipatory week rich with economic data releases. Traders are particularly focused on the Q3 GDP figures due on Thursday, which are anticipated to reveal a recovery. Concurrently, annual food inflation in New Zealand eased to 4.4% in November, down from 4.7% the previous month. The government's half-yearly budget update has indicated a slightly expanded deficit for the current fiscal year, with a return to a surplus unlikely within the forthcoming five years. In terms of individual stock performances, Meridian Energy advanced by 2.6%, marking its most robust session in over two months, propelled by strong retail sales in November. A2 Milk saw a rise of 2.8%, while Delegat Group increased by 3.1%, Spark by 2.2%, and Ventia Group by 2.5%. These gains were nearly balanced by significant declines from Third Age (-4.2%), Gentrack (-3.5%), Hallenstein Glasson (-2.9%), and Tourism Holdings (-2.8%).