20.10.202622:54:37UTC+00NZX 50 Edges Higher Ahead of Inflation Data

The NZX 50 rose 14 points, or 0.1%, to 13,645 in Wednesday morning trade, rebounding after three consecutive sessions of losses and edging away from Tuesday’s low, the weakest level since September 16.

Investors were focused on Thursday’s release of Q3 inflation figures, with markets anticipating a slowdown in price growth on both an annual and quarterly basis. Sentiment was further supported by easing Treasury yields and moderating oil prices, which helped dampen inflation worries and reduced fears of additional rate hikes after the RBNZ raised interest rates for a second consecutive time in July and again in September.

The broader index also took its lead from gains in US stock futures as traders digested a series of corporate earnings reports. Strength in energy, real estate, consumer staples, and healthcare stocks underpinned the advance, with notable rises in Ebos Group (up 2.0%), Fletcher Building (1.9%), Mainfreight (1.2%), Channel Infrastructure (1.2%), Port of Tauranga (1.0%), Sanford (1.0%), and Westpac Banking Corp. (0.8%).