12.05.202523:02:17UTC+00New Zealand Stocks Rise for Third Session

New Zealand's stock market surged by 104 points, or 0.8%, reaching 12,780 during Tuesday's morning sessions, marking a three-day upward trend. This positive movement follows a strong performance on Wall Street after the United States and China agreed to a tariff truce amid ongoing trade talks. The NZX 50 index achieved levels not seen since February 20th, as the trade agreement between Washington and Beijing mitigated concerns of a global economic downturn and bolstered expectations that New Zealand could recover from recession. Market participants are now looking ahead to the release of April's food inflation figures later this week, following a 14-month peak in March. The majority of sectors experienced gains, particularly in healthcare and communications services. Top performers included Mainfreight, which increased by 3.1%, Ryman Healthcare with a 2.4% rise, Fisher & Paykel advancing by 2.3%, ANZ Group up by 1.7%, Freightways increasing by 1.5%, Infratil by 1.4%, the Summerset Group rising by 1.2%, and Skellerup with a 1.1% gain.