FX.co ★ NZX 50 Logs Best Daily Gain in Over 4 Months

The S&P/NZX 50 Index experienced a notable rise of 1.3%, closing at 13,508 on Monday, which marked its most significant intraday gain since early August. This increase came as part of a shortened trading week due to an upcoming holiday. This New Zealand benchmark mirrored last week's positive trends on Wall Street, fueled by renewed enthusiasm in AI-related stocks and heightened anticipation that the Federal Reserve may have more leeway to relax monetary policies. The climb was primarily led by health-related stocks, with the health technology sector seeing an uplift of over 2%. Fisher & Paykel Healthcare saw a 2.1% increase, EBOS Group climbed by 1.9%, and AFT Pharmaceuticals went up by 1.7%. The health services sector also reported gains, nearly rising 3%, with Ryman Healthcare up 3.2%, Summerset Group advancing by 3.3%, and Oceania Healthcare increasing by 1.1%. Additionally, the non-energy minerals sector felt a positive push, exemplified by Fletcher Building's 2.2% rise and Santana Minerals' 5.2% surge. Looking towards 2025, the index is projected to achieve an annual increase exceeding 3%.