FX.co ★ NZX 50 Ends Higher, Near 2-Month Peak

On Monday, New Zealand's benchmark index, the S&P/NZX 50, climbed 0.8% to reach 12,421, marking its third consecutive increase and achieving its highest close in nearly two months. This upward trend was significantly driven by robust performances in the transportation sector. The sector benefited from diminishing concerns over global supply chain disruptions, alongside optimistic signals about US-China trade relations, as both countries recently expressed openness to trade agreements. Although investors remained cautious, the potential for enhanced trade flows positively influenced market sentiment, particularly benefiting transport companies heavily involved in exports. Domestically, the focus shifted to imminent unemployment data, anticipated to reveal a rise in the jobless rate, which could potentially strengthen predictions of further monetary policy easing by the Reserve Bank. Among the transportation stocks, Mainfreight saw an increase of over 2%, while Auckland International Airport and Port of Tauranga each experienced gains exceeding 1%. Other notable performers included Mercury NZ with a 1.5% rise, Fletcher Building which soared by 3.2%, Summerset Group climbing 1.8%, and Ryman Healthcare advancing by 3%.