12.02.202605:37:45UTC+00NZX50 Hits Three-Week High

New Zealand’s benchmark S&P/NZX 50 index rose 0.2% on Thursday to close at 13,531, a three-week high, driven primarily by gains in heavyweight financial stocks. The financial sector jumped 5.7%, led by ANZ Group Holdings, which surged 9% after posting first-quarter cash profits that exceeded market expectations. The result indicates that CEO Nuno Matos, who took the helm in May 2025, is beginning to deliver early benefits from his cost-cutting and restructuring program.

Additional support for the index came from advances in consumer durables, energy minerals, and industrials. Among major constituents, Meridian Energy (+1.4%), Contact Energy (+1.1%), Auckland International Airport (+0.8%), A2 Milk (+0.5%), Infratil (+0.2%), and Fisher & Paykel (+0.1%) all finished higher.

Investors are now turning their attention to Friday’s domestic data releases, including the Business PMI, visitor arrivals, and business inflation expectations.