The NZX 50 rose 13 points, or 0.1%, to close at 12,946, rebounding from early losses and extending gains for a third straight session. The index tracked higher alongside US futures, supported by a statement from US President Trump announcing an extension of a ceasefire with Iran. Utilities, financials, industrials, and technology stocks were the main contributors to the advance.
Upside was capped, however, by the collapse of a second round of US–Iran peace talks and the continuation of the US blockade on Iran. These factors weighed on sentiment given New Zealand’s dependence on energy imports and lingering domestic inflation worries after Q1 price growth exceeded market expectations.
Notable gainers included Freightways Group (up 4.1%), Mainfreight (1.9%), Gentrack Group (1.5%), Briscoe Group (1.4%), Chorus (1.2%), Infratil (1.1%), Contact Energy (1.0%), and Auckland International Airport (0.9%).
