New Zealand shares rose 36 points, or 0.3%, to 12,981 in early Thursday trading, marking a third consecutive session of gains and mirroring Wednesday’s rally on Wall Street. Investors welcomed US President Trump’s decision to extend a ceasefire with Iran, which helped lift risk sentiment.
The advance was led primarily by energy, consumer staples, real estate, and healthcare stocks. Market mood was further supported by a Labour Party statement backing the India–New Zealand free trade agreement, giving National and ACT the parliamentary numbers needed to secure its passage.
Upside was capped, however, by Moody’s decision to revise New Zealand’s sovereign outlook from stable to negative, citing heightened global economic and political uncertainty. The move followed a similar action by Fitch in March, when it also cut the country’s outlook from stable to negative.
Early notable gainers included Henderson Far East Income (up 2.0%), Ebos Group (1.4%), Ryman Healthcare (1.4%), Auckland International Airport (1.0%), and A2 Milk (0.9%).
