The NZX 50 rose 54 points, or 0.4%, to 13,549 in Monday morning trade, extending gains from the previous session. The advance was led primarily by consumer staples, materials, and healthcare stocks. Consumer staples jumped 5.6%, driven by A2 Milk, which surged 11.1% after securing highly sought‑after regulatory approval from Chinese authorities to produce infant formula at its Pokeno facility.
The broader index reached its highest level since March 4, building on a second consecutive weekly rise as last week’s data continued to underpin sentiment. New Zealand’s GDP growth accelerated to 0.8% quarter-on-quarter in Q1, while annual growth remained steady at 1.5%.
Upside was limited, however, by weaker US futures, as sentiment was dampened by President Trump’s threats to restart the war with Iran, even as Vice President JD Vance met with Iranian officials for the first talks under an interim peace deal.
Other early gainers included Gentrack Group (up 2.1%), AFT Pharmaceuticals (1.9%), F&C Investment Trust (1.7%), and Fisher & Paykel (0.9%).
