FX.co ★ NZX 50 Rises for Second Day, Hits Highest in a Week

The NZX 50 experienced an uptick, rising by 94 points or 0.7% to reach 12,848 on Thursday morning, marking a continued positive trend for the second consecutive session after encouraging signs from Wall Street. Sentiment was further bolstered when U.S. President Trump announced he had no intention of dismissing Fed Chair Powell, alleviating concerns regarding the central bank's independence. This movement saw the benchmark index achieving its highest mark in one week, driven by robust performance in the transport, healthcare, and producer manufacturing sectors. However, gains were tempered by new figures indicating that New Zealand's food inflation had climbed to a one-and-a-half-year peak of 4.6% in June, continuing its rise for the eighth month in a row. Additionally, investors exercised caution in anticipation of significant domestic reports due the following week, including Q2 annual inflation and June's trade balance figures. T&G Global led the pack with a 7.3% surge following significant interest in a possible sale. Other noteworthy performers included Auckland International Airport, which rose by 4.5%, Ryman Healthcare with a 4.3% increase, and Restaurant Brands NZ, climbing 3.4%.