The NZX 50 advanced 184 points, or 1.4%, to close at 13,254 on Wednesday, marking a third consecutive session of gains. The move followed a rally in US futures after US President Trump announced a two-week ceasefire between the US–Israel coalition and Iran.
Sentiment was further supported by the Reserve Bank of New Zealand’s decision to keep the policy rate unchanged at 2.25%, maintaining borrowing costs at their lowest level since mid-2022 amid persistent concerns about inflation and the impact of surging energy prices on the broader economy.
The benchmark remained at its highest level since March 18, underpinned by broad-based sector gains. Materials led the advance, followed by industrials, financials, technology, and real estate. Notable outperformers included Freightways Group (up 4.3%), Westpac Banking Corp. (3.9%), ANZ Group (3.3%), Skellerup Holdings (3.3%), Auckland International Airport (3.1%), and Fisher & Paykel Healthcare (2.3%).
