NZX 50 Rises for Second Day, Hits Highest in a Week

The NZX 50 climbed 94 points or 0.7% to 12,848 on Thursday morning, extending gains for the second session following a positive lead from Wall Street.

Sentiment strengthened further after U.S. President Trump said he had no plans to remove Fed Chair Powell, easing concerns about central bank independence.

The benchmark index reached its highest level in a week, supported by strength in transport, healthcare, and producer manufacturing sectors.

However, further upside was limited by fresh data showing New Zealand's food inflation rose to a 1-1/2-year high of 4.6% in June, marking an eighth consecutive monthly increase.

Investors also turned cautious ahead of key domestic releases next week, including Q2 inflation and June’s trade balance.

T&G Global surged 7.3% after reporting strong interest in a potential sale.

Other notable gainers were Auckland Intl.

Airport (4.5%), Ryman Healthcare (4.3%), and Restaurant Brands NZ (3.4%).