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2026.07.2306:01:45UTC+00NZX 50 Ends at Record High on Energy Rally

New Zealand shares rose 32 points, or 0.2%, to close at a record high of 13,795 on Thursday, overcoming early losses to log a second straight session of gains. The advance was led by energy, materials, and consumer discretionary stocks.

The energy sector climbed 4.6%, with Channel Infrastructure NZ — a leading operator of energy infrastructure in New Zealand and Australia — also gaining 4.6% on optimism surrounding its fuel storage project.

Upside was limited, however, by weaker US futures after an overnight decline on Wall Street, as investors turned cautious ahead of the upcoming earnings season for mega-cap technology companies. Sentiment was further pressured by persistently elevated oil prices, which stoked inflation concerns and reinforced expectations of additional interest rate hikes.

Data released on Tuesday showed New Zealand’s inflation rate quickened in Q2 to its highest level since Q4 2023. Among other notable gainers were Freightways Group (up 3.2%), Hallenstein Glasson (2.8%), Westpac Banking Corp (2.0%), ANZ Group (1.9%), and Meridian Energy (1.8%).

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