New Zealand’s benchmark S&P/NZX 50 index rose 0.4% to close at 13,489 on Friday, rebounding from Thursday’s losses. Market sentiment was underpinned by data showing consumer confidence at a five-month high, adding to signs the economy is picking up. The rebound was led by several heavyweight stocks, including Infratil (+2.5%), a2 Milk (+0.8%), Ebos Group (+2.0%), and Spark NZ (+0.9%). Other key performers were Fletcher Building (+2.1%), Summerset Group (+2.1%), Heartland Group (+0.9%), and Stride Property (+1.1%). Tech stocks also saw strong moves: ikeGPS Group climbed 7.9% to a two-week high after reporting a 47% increase in subscription revenue, while Rakon advanced 5.95% as it narrowed its half-year loss amid higher revenues. For the week, the NZX 50 gained 0.5%, but it fell 0.4% for the month, ending a six-month streak of gains.
