The NZX 50 advanced 75 points, or 0.6%, to 12,981 in Monday morning trading, snapping a two-session losing streak, with gains led by energy, healthcare, and utilities stocks. Sentiment was further supported by upbeat trade data, as New Zealand recorded an NZ$0.70 billion surplus, reversing an upwardly revised NZ$0.37 billion deficit. The benchmark index recovered from its lowest level since April 2, hit on Friday, after logging a weekly decline.
Upside momentum was partly restrained by weaker U.S. equity futures after Iran again closed the Strait of Hormuz, accusing other parties of breaching a ceasefire. Traders are now focused on the upcoming release of first-quarter inflation figures later this week, which will help shape expectations for the Reserve Bank of New Zealand’s policy stance amid rising oil prices.
Early leaders on the day included Mainfreight (up 1.4%), AFT Pharmaceuticals (1.4%), Ebos Group (1.1%), Fisher & Paykel Healthcare (1.1%), ANZ Group (0.8%), and Auckland International Airport (0.6%).
