19.08.202622:59:37UTC+00NZX 50 Nears Record High on Communication Services Boost

New Zealand shares advanced 58 points, or 0.4%, to 13,987 in Thursday morning trading, rising for a third straight session and touching their highest level since August 5, when the index hit a record high. The market was primarily supported by gains in communication services, energy, and real estate stocks.

Optimism around corporate earnings continued to underpin sentiment, with investors awaiting further results from several companies due later in the day. The communication services sector climbed 2.3%, led by a 5.0% jump in Spark New Zealand, the country’s largest telecommunications provider, after it reported a 91.9% surge in net profit for the second half of 2026.

Sentiment was also bolstered by Wall Street, where major indexes mostly finished higher overnight as easing Treasury yields helped offset weakness in technology shares. Among other early movers, Channel Infrastructure added 1.5% and Skellerup Holdings gained 0.7%. EBOS Group extended its advance, rising 0.8% after reporting a 4.7% increase in net profit for the full year ended June 30, 2026.