27.07.202605:51:47UTC+00NZX 50 Erases Early Losses, Ends at Record High

New Zealand shares rose 78 points, or 0.6%, to close at 13,851 on Monday, recovering from early-session weakness and snapping the previous session’s losses. Gains were led by consumer staples, communication services, industrials, and healthcare stocks, helping the benchmark index reach a record high.

The market tracked a rise in US futures, supported by easing oil prices as tensions in the Middle East moderated, while investors positioned themselves ahead of major US tech earnings. Sentiment remained cautious, however, with traders awaiting this week’s Federal Reserve policy decision and China’s PMI data, as well as New Zealand’s July consumer confidence and business outlook readings.

Among individual movers, Auckland International Airport advanced 2.0%, A2 Milk gained 1.8%, ANZ Group climbed 1.7%, Summerset Group added 1.5%, Westpac Banking Corporation rose 1.5%, and Fisher & Paykel Healthcare firmed 1.2%.