FX.co ★ NZX 50 Posts Best Daily Gain in Nearly Two Months

New Zealand's leading S&P/NZX 50 index advanced by 1.2%, closing at 13,292 on Tuesday, marking its most significant daily increase since early August, and achieving a fifth consecutive monthly rise. The index's upward momentum was primarily fueled by an impressive 11.4% increase in the consumer services sector. Notably, Restaurant Brands soared over 65% to reach a record intraday high—its peak since mid-August 2023—after receiving a takeover bid from Finaccess Restauración, S.L., indicating the Spanish company's intent to acquire all remaining shares. Other sectors also displayed robust performance, particularly heavyweight financials, with Westpac Banking and ANZ Group rising by 1.5% and 1.6%, respectively. However, global uncertainty persisted due to concerns about a potential U.S. government shutdown, while mixed Chinese PMI data offered limited encouragement given New Zealand’s trade relationship with China.