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24.08.202622:52:24UTC+00NZX 50 Edges Higher in Morning Trade

New Zealand shares rose 27 points, or 0.2%, to 13,908 in Tuesday morning trade, snapping the prior session’s losses, with gains led by consumer discretionary, healthcare, and energy stocks. The benchmark index also mirrored a modest uptick in US stock futures ahead of Nvidia’s earnings and this week’s release of US PCE inflation data.

Optimism around the ongoing earnings season supported sentiment, with several local companies set to report in the coming days, including Port of Tauranga and Channel Infrastructure. However, upside was capped by caution ahead of the PCE data, which will help shape expectations for the Federal Reserve’s next policy decision, as well as remarks from FOMC officials at the Jackson Hole Symposium later this week.

Early gainers included Hallenstein Glassons, up 2.5%; Ryman Healthcare, up 1.4%; ANZ Group, up 0.7%; and Fisher & Paykel, up 0.5%. Air New Zealand, Port of Tauranga, and Channel Infrastructure each advanced 0.6% ahead of their earnings releases this week.

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