The NZX 50 edged up 8 points, or 0.1%, to 13,631 in Thursday morning trade, extending the previous session’s gains after the release of New Zealand’s GDP figures. Fresh data showed the economy grew more than expected, with GDP expanding 2.6% year-on-year, and easing to a 0.2% increase quarter-on-quarter, against a backdrop of elevated oil prices driven by the ongoing conflict in the Middle East.
Upside was capped by the US Federal Reserve’s decision to raise interest rates by 25 basis points. Investors also kept a close watch on developments in the Iran–US war and their implications for oil prices.
Financials, healthcare, and utilities led the market higher. Notable gainers included Channel Infrastructure (+1.5%), Freightways Group (+0.7%), AFT Pharmaceuticals (+0.5%), EBOS Group (+0.5%), and Gentrack Group (+0.5%).
