New Zealand’s benchmark S&P/NZX 50 rose 0.2% to close at 13,531 on Thursday, hitting a three-week high, as gains were led by index-heavy financial stocks. Financials climbed 5.7%, with ANZ Group Holdings surging 9% after reporting first-quarter cash profits ahead of expectations. The result suggests CEO Nuno Matos, who took over in May 2025, is beginning to deliver early gains from his cost-cutting and restructuring strategy. Other sectors finishing in the green included consumer durables, energy minerals, and industrials. Among index heavyweights, Meridian Energy (+1.4%), Contact Energy (+1.1%), Auckland Intl Airport (+0.8%), A2 Milk (+0.5%), Infratil (+0.2%), and Fisher & Paykel (+0.1%) finished higher. Market participants are now awaiting Friday’s local data releases, which include Business PMI, visitor arrivals, and business inflation expectations.
