FX.co ★ New Zealand Stocks Rise for 2nd Session

The benchmark S&P/NZX 50 Index in New Zealand rose by 0.6% to conclude Thursday at 13,389, building on gains from the prior session. This growth was supported by strong performances in the property, miscellaneous, and non-energy minerals sectors. Notably, shares of infrastructure investor Infratil increased by 4.95%, following an announcement that its partially owned data center operator, CDC, has entered into a strategic alliance with Nvidia and Firmus Technologies to construct an AI data center in Melbourne. Additionally, mining company Santana Minerals saw a notable increase of 7% after obtaining essential freehold property for its Bendigo-Ophir Gold Project. Within the real estate market, standout performers included Precinct Properties, which rose by 1.6%, Kiwi Property by 0.95%, Property for Industry by 0.8%, Argosy Property by 2.4%, and Stride Property by 3.2%. Investor sentiment was further buoyed by positive signals from Wall Street, as US stocks largely advanced amid predictions of further Federal Reserve rate reductions and favorable earnings reports from leading banks.