FX.co ★ New Zealand Shares Edge Higher

New Zealand stocks rose slightly on Tuesday morning, gaining 16 points or 0.1%, to reach 13,699, effectively breaking a two-session losing streak. The rally was driven by robust performances in the industrial and consumer services sectors. Investor sentiment was buoyed by Wall Street's S&P 500 and Dow Jones setting new record highs at the week's onset, ahead of significant U.S. inflation figures and major bank earnings reports expected later. Domestically, a notable rise was observed in capacity utilization, reaching its highest level in three quarters during Q4. Furthermore, business sentiment soared, achieving its best level since March 2014; a private think tank revealed that a net 48% of surveyed firms anticipated better business conditions, a significant increase from the 18% optimism recorded in Q3. Despite this positive outlook, gains were somewhat tempered by apprehensions regarding forthcoming Chinese trade and GDP data, as China remains New Zealand's leading trade partner. Additionally, investors were awaiting December's food inflation statistics, set to be released soon. Key early performers in the market included Millennium & Copthorne Hotels, climbing 1.3%, followed by South Port NZ at 1.0%, Port of Tauranga at 0.9%, and Contact Energy at 0.4%.