New Zealand shares rose 111 points, or 0.8%, to finish at 13,993 on Tuesday, fully reversing the prior session’s losses. The advance was led by consumer staples, technology, and utilities. Consumer staples climbed 3.2%, driven in particular by a 5.0% jump in A2 Milk, as traders reassessed the stock after a volatile mid-August session following its earnings release.
Sentiment was also supported by optimism around the current earnings season, with several companies set to report this week, including Port of Tauranga and Channel Infrastructure. Gains were partly capped, however, by caution ahead of the US PCE price data, which investors are watching for clues on the Federal Reserve’s policy decision at its upcoming meeting, as well as guidance from FOMC officials speaking at the Jackson Hole Symposium later this week.
Among other notable movers, Hallenstein Glassons gained 2.2%, Mercury NZ 1.6%, Fisher & Paykel 1.5%, and ANZ Group 1.5%. Port of Tauranga and Channel Infrastructure added 1.2% and 0.9%, respectively, ahead of their earnings releases this week.
