The NZX 50 climbed 192 points, or 1.5%, to close at 13,394 on Friday, wiping out the previous session’s losses and rebounding from a more than two-week low hit on Thursday. Most sectors finished higher, led by consumer staples. That sector jumped 6.7%, largely driven by A2 Milk, whose shares surged 10.5%.
The benchmark also reached its highest level since March 6, following a rally on Wall Street overnight as tensions in the Middle East eased. However, gains were tempered by fresh data showing New Zealand’s manufacturing sector contracted in May for the first time in 11 months, amid rising oil prices.
Investors also looked ahead to next week’s key events: the release of New Zealand’s Q1 GDP figures and the US Federal Reserve’s monetary policy decision. Among individual movers, Ebos Group advanced 3.6%, Turners Automotive Group 2.3%, Fisher & Paykel Healthcare 1.7%, and Mainfreight 1.6%. For the week, the NZX 50 rose 1.8%, recovering from a decline the previous week.
