The S&P/NZX 50 index rose 0.6% to close at 13,333 on Friday, snapping a two-day losing streak, supported by upbeat domestic data, with Wall Street’s rise adding further support. Consumer confidence in New Zealand climbed to its highest level in over four years in December, while business sentiment surged to a 30-year high. The country also reported a smaller-than-expected trade deficit as export growth sharply outpaced imports. These figures followed Thursday’s data showing the economy returned to growth in Q3, signaling a pickup in activity after aggressive rate cuts. Heavyweights led the rebound, with strong gains from Infratil (+2.6%), Contact Energy (+1.9%), Mercury NZ (+1.0%), and Ebos Group (+2.2%). Overseas, US equities rebounded on Thursday, driven by a rally in tech stocks after cooler-than-expected inflation data boosted expectations of Federal Reserve rate cuts next year. Despite Friday’s advance, the NZX 50 fell 0.55% for the week, its second straight weekly decline.
