The S&P/NZX 50 index advanced 0.7% at 12,846 on Friday, wrapping up its second straight weekly gain and marking its highest closing level since January 2022, amid widespread gains. In economic news, annual food inflation in New Zealand rose to 1.2% in September, up from 0.4% in the previous month. The country's manufacturing sector improved in September (46.9 vs 46.1 in August), but remained firmly in contraction for the 19th consecutive month. In the US, inflation data came in slightly higher than expected and weekly jobless claims increased, reinforcing bets that the Federal Reserve may lower rates again in November. Meanwhile, investors are now awaiting the much-anticipated briefing in China this weekend, with expectations of additional economic stimulus measures from Beijing. Healthcare stocks led the market higher, with major players Fisher & Paykel and Ebos Group rising 1.6% and 2%, respectively. The benchmark index climbed 1.8% over the week and is up 3.4% month-to-date.
The main stock market index in New Zealand (NZX 50) increased 1075 points or 9.13% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from New Zealand. Historically, the New Zealand Stock Market (NZX 50) reached an all time high of 13643.78 in January of 2021. New Zealand Stock Market (NZX 50) - data, forecasts, historical chart - was last updated on October 13 of 2024.
The main stock market index in New Zealand (NZX 50) increased 1075 points or 9.13% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from New Zealand. The New Zealand Stock Market (NZX 50) is expected to trade at 12249.77 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 11621.45 in 12 months time.