FX.co ★ New Zealand Shares Close Near 3-Week High

The S&P/NZX 50 Index advanced slightly by 0.1% to reach 13,556 on Monday, marking its seventh straight gain and closing at nearly a three-week high, buoyed by strong performances from major financial stocks. Westpac Banking led the way with a 3.8% increase, propelled by robust growth in mortgages and business loans, despite a decline in net income for the year ending September. Likewise, ANZ Group Holdings and Kiwi Property saw gains of 0.5% each. In other sectors, commercial services stood out, with significant increases observed in the stocks of Livestock Improvement Corporation (+9.2%), Solution Dynamics (+2.1%), and Accordant Group (+3.7%). In contrast, Rua Bioscience experienced a sharp decline, dropping over 11%—its largest intraday fall since last December—following a discounted capital raising. On the economic data front, New Zealand reported a slight decline in consumer confidence for October, as investors shifted their attention to the forthcoming third-quarter labor market statistics.