The NZX 50 rose 20 points, or 0.1%, to 13,831 on Monday, trimming losses from earlier in the day and from the previous session, supported mainly by gains in consumer staples, utilities, and real estate. Upside was capped, however, by weakness in the materials, technology, and industrial sectors. Further limiting advances, oil prices remained elevated after US President Trump rejected a proposed peace deal with Iran that would have reopened the Strait of Hormuz, keeping energy costs high and stoking inflation concerns. Recently, RBNZ Governor Anna Breman cautioned that inflation could rise further if elevated oil prices persist.
Investors were also positioning ahead of several key data releases, including New Zealand’s September business confidence survey, China’s PMI figures, and the US PCE price index and labour-market data due this week, all of which could shape expectations for the Federal Reserve’s next monetary policy decision. Among the session’s notable gainers were Delegat Group (up 3.5%), A2 Milk (2.7%), Meridian Energy (2.2%), ANZ Group (1.8%), and Mercury NZ (1.2%).
