The S&P/NZX 50 Index rose 0.4% to around 13,606 on Tuesday, advancing for the eighth consecutive session to close at an all-time high, driven by strength across most key stocks. Leading the gains were utilities, including Meridian Energy (+1.5%), Contact Energy (+1%), and Mercury NZ (+1.2%). Other notable performers included Fletcher Building (+1.8%), Ventia Services (+2.2%), Skellerup Holdings (+1.7%), and Vulcan Steel (+2.2%). The commercial services sector also performed strongly, rising 3.6%. On the data front, traders now await the Q3 labor market report later this week, with the unemployment rate expected to reach a nearly nine-year high, which could further strengthen the case for monetary easing from the Reserve Bank. Elsewhere, subdued manufacturing data from top trading partner China raised risks for Kiwi exports, exerting some downward pressure.
