FX.co ★ NZX 50 Poised for Second Straight Weekly Gain

The NZX 50 rose 24 points, or 0.2%, to 13,857 in Friday morning trade, extending its gains for a third consecutive session and reaching its highest level since September 22. The benchmark followed overnight strength on Wall Street as the recent tech selloff abated and Treasury yields pulled back. Sentiment was further supported by fresh data showing an acceleration in New Zealand manufacturing activity in August. However, the advance was partially limited by a three-month high in food inflation and a continued decline in electronic card spending in September. Healthcare, consumer discretionary, and consumer staples stocks were the primary drivers of the move, with notable gains from Fisher & Paykel (up 1.1%), South Port of New Zealand (1.1%), Infratil (1.0%), and EBOS Group (0.5%). On a weekly basis, the index is on track for a 0.8% increase, which would mark its second consecutive weekly rise.