21.09.202605:53:12UTC+00NZX 50 Erases Morning Losses, Ends 0.6% Higher

The NZX 50 rose 82 points, or 0.6%, to close at 13,821 on Monday, reversing losses from both the morning session and the previous trading day. The advance was led primarily by consumer staples, materials, and communication services stocks. The benchmark index also reached its highest level since September 7, supported by a rebound in US stock futures after the Dow Jones notched a third consecutive weekly decline.

In global developments, China kept key interest rates unchanged for a 16th straight month ahead of the Trump–Xi summit scheduled for September 24. At the same time, investors remained cautious, closely tracking oil prices amid ongoing efforts to de-escalate tensions in the Middle East.

Gains on the local market were tempered by recent economic data. New Zealand’s GDP expanded just 0.1% quarter-on-quarter in Q2, slowing from 0.2% in the previous quarter and marking the weakest pace of growth in a year, as rising fuel costs put pressure on both businesses and households.

Among the standout performers were Vulcan Steel (up 5.8%), A2 Milk (4.5%), Skellerup Holdings (3.5%), Mainfreight (2.5%), Delegat Group (2.2%), Freightways Group (1.2%), ANZ Group (0.9%), and Fisher & Paykel (0.9%).