FX.co ★ New Zealand Shares Rebound

On Friday, New Zealand's S&P/NZX 50 index experienced a positive move, climbing 0.85% to finish at 13,232, marking a recovery after two consecutive days of losses. This upturn was primarily driven by robust gains in the healthcare and transportation sectors, mirroring a buoyant Wall Street which saw equities rise following the US Federal Reserve's decision to reduce interest rates. Notably, Intel experienced a surge following Nvidia’s announcement of acquiring a stake in the competitor. Domestically, traders are anticipating further rate cuts by the Reserve Bank of New Zealand after the economy exhibited an unexpectedly sharp downturn. Some traders are even expecting a significant half-point reduction in rates by October. On the corporate scene, Fisher & Paykel, a medical device manufacturer, saw its shares increase by 2.2%, while Ebos Group, a pharmaceutical supplier, rose by 4.3%. In the aged-care sector, Summerset Group and Oceania witnessed gains of 2.1% and 1.5%, respectively. Meanwhile, in transportation, Auckland International Airport advanced by 1.95%, Mainfreight grew by 2.5%, and Freightways surged by 4.6%.