The NZX 50 rose 17 points, or 0.1%, to 13,990 in Tuesday morning trading, reversing losses from the previous two sessions and following overnight gains on Wall Street driven by a rebound in AI-related stocks. Investors refocused on developments in the Middle East conflict and their implications for oil prices, while also awaiting the start of formal coalition negotiations after the release of the final election results, scheduled for November 27.
Market sentiment was further tempered by caution ahead of China’s trade data and key US inflation figures due later today, which are expected to provide guidance on the Federal Reserve’s policy stance at its upcoming meeting. Financials, consumer staples, and communication services were the main supports for the benchmark index, while technology and real estate stocks limited the overall advance.
Early winners included Briscoe Group, up 2.1%; Chorus, up 2.0%; EBOS Group, up 1.4%; Skellerup Holdings, up 1.1%; Infratil, up 0.8%; and A2 Milk, up 0.5%.
