New Zealand’s benchmark S&P/NZX 50 index rose 0.2% to end at 13,599 on Friday, rebounding from the prior session’s losses, with utility and healthcare stocks leading the gains. Market sentiment remained supported by expectations of further policy easing from the Reserve Bank of New Zealand, after soft labor market data earlier this week strengthened the case for a rate cut later this month. Utility stocks bounced back, with Meridian Energy (+0.3%), Contact Energy (+0.85%), Mercury NZ (+0.6%), and Genesis Energy (+1.2%) all finishing higher. Medical device maker Fisher & Paykel Healthcare (+0.9%) and pharmaceutical distributor Ebos Group (+1.4%) advanced, while aged-care providers Ryman (+0.3%), Oceania (+2.5%), and Summerset Group (+1.0%) also ended higher. Offsetting some of the gains, telecommunications firm Spark NZ extended its slide, falling 2.1%. For the week, the NZX 50 added 0.4%, marking its third straight weekly advance.
