New Zealand shares climbed 149 points, or 1.1%, to close at 13,917 on Monday, recouping losses from the previous two sessions. Gains were led by industrials, technology, utilities, and real estate stocks. The broader index rebounded from its lowest level since August 17, hit on Friday, as August business confidence remained historically strong despite easing from July’s five-month high.
Market sentiment was tempered by caution ahead of this week’s RBNZ monetary policy decision, with investors widely expecting a further 25 bp interest rate increase following May’s hike. Traders also tracked geopolitical developments in the Middle East after the US struck Iranian launchers on Larak Island.
Notable performers included Meridian Energy (+5.3%), Gentrack Group (+3.1%), Hallenstein Glasson (+2.6%), Fletcher Building (+2.1%), South Port of NZ (+1.7%), and Fisher & Paykel (+1.4%). For the month, the index advanced 1.6%, posting its seventh consecutive monthly gain.
