New Zealand shares added 20 points, or 0.2%, on Wednesday to finish at a record high of 14,013, reversing early-session weakness and building on gains from the previous day. The benchmark index closed above the 14,000 mark for the first time, driven mainly by strength in the materials, consumer staples, and technology sectors. Materials led the advance with a 2.8% surge, supported by a 4.8% jump in Vulcan Steel after the company reported a 20% increase in earnings per share for the fiscal year ended June 30, 2026.
Positive earnings expectations continued to underpin sentiment ahead of results due on Thursday and Friday. Risk appetite was further boosted by a strong session on Wall Street overnight, where robust tech performance, easing oil prices, and lower US Treasury yields supported equities. Among the other top performers were Colonial Motor, up 3.0%, A2 Milk, up 2.4%, and Fletcher Building, up 2.1%. In contrast, Meridian Energy slipped 1.7%, even though it returned to profit for the 12 months to June after posting a loss in the same period of 2025.
