The NZX 50 rose 41 points, or 0.3%, to 13,586 in Tuesday morning trade, building on the previous session’s gains and reaching its highest level since March 2. The move followed an overnight rally on Wall Street, as investors revisited AI-related stocks after the recent selloff and as tensions between the US and Iran eased.
Strength in technology, utilities, financials, and consumer staples underpinned the broader index. Still, market participants remained cautious ahead of key data releases: New Zealand’s June consumer and business confidence figures due later this week, as well as China’s PMI readings and US June employment data, all of which will help shape expectations for the economic outlook in the world’s two largest economies.
Early notable gainers included Gentrack Group (+1.3%), A2 Milk (+1.1%), F&C Investment (+1.0%), Contact Energy (+1.0%), Skellerup Holdings (+0.8%), and South Port NZ (+0.7%).
