The NZX 50 rose 50 points, or 0.4%, to close at 13,254 on Wednesday, recovering from early losses, extending the prior session’s gains, and marking its highest finish since May 7. The advance was led mainly by communication services, energy, and consumer discretionary stocks.
Sentiment was supported by the latest data from China: consumer inflation held steady, though it came in slightly below expectations, while producer prices climbed at their fastest pace in nearly four years amid higher oil prices. Even so, investors remained cautious ahead of US inflation figures, which could shape the Federal Reserve’s policy stance at its upcoming meeting.
Upside was also capped by a further rise in oil prices after reports that the US military carried out strikes against Iran in response to the downing of an American helicopter.
Notable gainers included A2 Milk (+2.9%), Skellerup Holdings (+2.3%), South Port NZ (+2.3%), Freightways Group (+2.2%), Fisher & Paykel (+1.0%), Chorus (+0.9%), and Port of Tauranga (+0.9%).
