The NZX 50 rose 31 points, or 0.2%, to 13,201 in Tuesday morning trade, snapping the previous session’s losses and mirroring overnight gains on Wall Street, as sentiment remained buoyant on the back of ongoing optimism around artificial intelligence. Consumer staples, communication services, and energy stocks led the advance, though weakness in utilities limited the overall upside.
Investors also kept a close watch on developments in US–Iran peace negotiations aimed at ending the war.
On the macroeconomic front, New Zealand building consents for new dwellings rebounded sharply in April, jumping 10.9%. In contrast, the merchandise terms of trade fell 2.0% quarter-on-quarter in the first quarter of 2026, a steeper decline than the 1.2% drop anticipated by markets.
Early gainers on the index included A2 Milk (+1.9%), Sky Network Television (+1.3%), Scales Corporation (+1.2%), Chorus (+0.8%), and F&C Investment (+0.8%).
